INVISTA Completes Sale of Apparel & Advanced Textiles Business
Copyright Business Wire 2019
INVISTA has completed the previously announced sale of its Apparel & Advanced Textiles business to an affiliate of Shandong Ruyi Investment Holding.
The transaction includes:
-- The Apparel & Advanced Textiles business's portfolio of apparel-focused fibers and brands, including LYCRA(R) fiber, LYCRA HyFit(R) fiber, COOLMAX(R) fiber, THERMOLITE(R) fiber and insulation, ELASPAN(R) fiber, SUPPLEX(R) fiber and TACTEL(R) fiber products
-- TERATHANE(R) polytetramethylene ether glycol (PTMEG), 1,4 butanediol (BDO), and tetrahydrofuran (THF) production assets
-- Related manufacturing assets, research and development centers, and sales offices around the globe
-- Associated technical, operations, commercial and administrative staff (approximately 3,000 employees globally)
INVISTA retains ownership of its nylon, polyester, polyols and licensing businesses and related brands. This includes INVISTA's world-leading nylon 6,6 intermediates business, its global nylon polymer and fiber portfolio, and widely recognized brands including STAINMASTER(R) and ANTRON(R) carpet fibers and CORDURA(R) fabric. INVISTA will also retain its intellectual property rights for 1,4 butanediol (BDO), tetrahydrofuran (THF) and polytetramethylene ether glycol (PTMEG) technologies and will continue to license these and other technologies on a global basis.
From the fibers in your carpet to the plastic in your automobiles, INVISTA's commitment to continuous improvement has led its employees to develop some of the most durable, versatile polymers and fibers in the world. A subsidiary of Koch Industries since 2004, INVISTA brings to market the proprietary ingredients for nylon 6,6 and recognized brands including STAINMASTER(R), CORDURA(R) and ANTRON(R). INVISTA also offers specialty chemical intermediates and process technologies. See the bigger picture at INVISTA.com.
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