INVISTA reports it is “exploring strategic alternatives” for its Apparel & Advanced Textiles business, including the possibilities of selling or reinvesting.
Brands produced and marketed by the company include Lycra and CoolMax fiber. Carmichael International reported that the main manufacturing assets are in the Lycra Spandex business as well as the nylon textile filament plant in Monterrey, Mexico.
Jeff Gentry, INVISTA chairman and CEO, said, “In the event that no other company values the business more than we do, we will gladly hold the business and continue to invest for the future.”
A wholly owned subsidiary of Koch Industries, INVISTA’s technologies for nylon, spandex and polyester are used to produce clothing, carpet, air bags and other everyday products under the brand names including Lycra, CoolMax, Cordura, Stainmaster and Antron.
INVISTA has retained Goldman, Sachs & Co. to assist the company in exploring strategic alternatives.