Performance Fibers completes acquisition of Invista assets

ERJ staff report (DS)

Richmond, Virginia -- Performance Fibers said it has completed its acquisition of Invista's North America tyre cord and polyester industrial filament businesses including four plants in the US and Mexico that manufacture industrial polyester, Nylon-6 and tyre cord fabric. Terms of the purchase were not disclosed.

The purchase includes manufacturing facilities in Salisbury, North Carolina; Shelby, North Carolina; and Winnsboro, South Carolina; as well as the industrial polyester, industrial Nylon-6, and tyre cord fabric-producing assets currently operating inside Invista's Querétaro, Mexico site. Invista Querétaro's PET Resin business and its manufacturing operations for fine denier staple were not part of the sale.

With the acquisition, the Richmond, Virginia-based company increases its global manufacturing to 12 plants located in North America, Asia and Europe; an estimated $1 billion in sales; and approximately 4000 employees worldwide. The Company also adds Nylon-6 fibres used to reinforce larger tyres to its core polyester offerings, and increases its range of industrial polyester sewing thread fibres and other polyester products.

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Press release from Performance Fibers