Invista's German unit goes to Performance Fibers'

Richmond, Virginia - Performance Fibers has finalised its acquisition of Invista Resins & Fibers GmbH's German polyester yarn business. Terms of the sale were not disclosed.

The acquisition, which includes both commercial and manufacturing operations in Germany, represents the third major expansion of Performance Fibers' business in the past year. Performance Fibers, an affiliate of Sun Capital Partners, Inc., is one of the world's leading suppliers of high-tenacity polyester and a global manufacturer of other man-made industrial fibers and fabrics. With manufacturing facilities in North America, Asia and Europe, its products are used in a wide range of consumer and industrial applications.

The acquisition includes three manufacturing facilities - one each in the German cities of Bad Hersfeld, Bobingen and Guben - which produce industrial fibers for sewing thread, technical textiles and other industrial and specialty applications. The acquisition will enable Performance Fibers to provide customers with an expanded breadth of high-quality products, including a range of low-denier and high-denier industrial fibers for sewing thread and technical fabrics used in hoses, safety belts, webbing, slings, filtration fabrics and rope, among other end uses.

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Press release from Performance Fibers