Sector News

Invista mulls sale of apparel and advanced textiles business

February 27, 2017
Energy & Chemical Value Chain

Invista says it is considering whether to sell its apparel & advanced textiles business, which produces and markets specialty textiles and fabrics that include the Lycra and Coolmax brands.

“A key element of our market-based management business philosophy is to continuously assess the external value of our assets against our internal value to make sure that the asset is owned by the company that values it most highly,” says Jeff Gentry, Invista chairman and CEO.

“The apparel business is a strategic part of our portfolio—we are extremely pleased with the results of the business and remain confident in its continued and future success,” he adds. “We are simply considering all available options. 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.”

In September 2016, Invista agreed to sell its engineering polymer solutions business to RadiciGroup.

By Clay Boswell

Source: Chemical Week

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