Invista S.a.r.l., Wichita, KS/USA, has entered into a definitive agreement with Shandong Ruyi Investment Holding Co., Ltd., Jining, Shandong/China, to sell Invista’s Apparel & Advanced Textiles business, one of Invista’s 4 major business units.
Closing is expected by mid-2018. 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 etherglycol (PTMEG), 1,4-butanediol (BDO), and tetrahydrofuran (THF) production
• Related manufacturing assets, research and development centers, and sales offices around the globe
• All associated technical, operations, commercial and administrative staff (approximately 3,000 employees globally)
Invista will retain ownership of its polyamid, polyester, polyols and licensing businesses and related brands including Cordura and Stainmaster.With a total of 30,000 employees, Shandong Ruyi Group is one of the largest textile manufacturer in China.