Performance Fibers to buy out Chinese joint venture partner

Colonial Heights, Virginia — Performance Fibers will take 100-percent ownership of its polyester yarn fiber joint venture in China by agreeing to buy its Chinese partner´s 30-percent stake in the nine-year-old venture.

The acquisition, coupled with a recently announced expansion of the Chinese plant and the purchase of Diolen´s North American fibre and fabric conversion operations, “demonstrates Performance Fibers´ worldwide commitment to meeting our customers´ needs and strengthening our position in the industrial fibers industry,” said Greg Rogowski, president and CEO of Performance Fibers.

Performance Fibers, through…

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