INVISTA announces that it has entered into a definitive agreement with Shandong Ruyi Investment Holding to sell INVISTA’s apparel and advanced textiles business, one of INVISTA’s four major business units.
The transaction includes:
- INVISTA’s portfolio of apparel-focused fibers and brands including LYCRA fiber, LYCRA HyFit fiber, COOLMAX fiber, THERMOLITE fiber and insulation, ELASPAN fiber, SUPPLEX fiber and TACTEL fiber products,
- TERATHANE polytetramethylene ether glycol (PTMEG), 1,4 butanediol (BDO), and tetrahydrofuran (THF) production,
- Related manufacturing assets, research and development centers, and sales offices around the globe, and
- All associated technical, operations, commercial and administrative staff (approximately 3,000 employees globally).
INVISTA will retain ownership of its nylon, polyester, polyols and licensing businesses and related brands. This includes INVISTA’s nylon 6,6 intermediates business, its global nylon polymer and fiber portfolio, and brands including STAINMASTER and ANTRON carpet fibers and CORDURA fabric.
INVISTA will also retain its intellectual property rights for 1,4 butanediol (BDO), tetrahydrofuran (THF) and polytetramethylene ether glycol (PTMEG) technologies and will continue to license these technologies on a global basis.
Completion of the agreement is subject to customary closing conditions including regulatory clearances from competition authorities. Closing is expected by mid-2018. The purchase price is undisclosed.
INVISTA is a producer of chemical intermediates, polymers and fibers and its technologies for nylon, spandex and polyester are used to produce clothing, carpet, car parts and other everyday products.