TEXTILES.ORG
Industrial polyester fiber and fabric maker Performance Fibers of Huntersville, N.C., has completed the sale of its Asia operations to Indorama Ventures PCL, and has changed its name to DuraFiber Technologies Inc.
“This sale has enhanced our consolidation of resources to focus on our core business, further strengthened our financial position, and, most importantly, will accelerate our modernization, quality and innovation,” says Frank Papa, CEO of DuraFiber Technologies.
The sale and name change will have no operational impact on the American and European businesses, which will continue to operate as DuraFiber Technologies. Indorama Ventures has retained the rights to the Performance Fibers name.
The company develops technologies and products used in a variety of industrial and consumer applications from tires to seat belts to sewing thread, and it serves many industries including energy, transportation and safety.