Invista (Wichita, Kansas) says it has completed the sale of its apparel and advanced textiles business to Chinese textiles giant Shandong Ruyi. Financial terms of the deal, which was first announced in October 2017, were not disclosed.
Ruyi has received the manufacturing assets, R&D centers, global sales offices, and brands for Invista’s portfolio of apparel-focused fibers, including Lycra, Coolmax, and Thermolite. Ruyi has also taken manufacturing assets for the production of polytetramethylene ether glycol (PTMEG), 1,4-butanediol (BDO), and tetrahydrofuran (THF). In total, 3,000 employees have been transferred to Ruyi.
Invista has kept nylon, polyester, polyols and licensing businesses and related brands. These include 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 has also kept the intellectual property rights for its BDO, THF, and PTMEG technologies.
By Clay Boswell
Source: Chemical Week
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