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
3M and Dow have announced they are cutting thousands of roles from their global workforces in response to economic pressures. Dow has said it will cut 2,000 jobs across its global workforce (around 5%) in a bid to save US$1bn in 2023. The company says it will also cut costs by shutting down “select assets”, though it did not note where it would halt operations.
Sweden’s state mining firm has discovered what could be Europe’s largest rare earths deposit, and says it could help the bloc reduce its reliance on imports of minerals needed to manufacture clean technologies and meet climate targets.
Henkel and Avantium have been partners since 2019, when Henkel joined the PEFerence consortium. This consortium of partners, coordinated by Avantium, aims to establish an innovative supply chain for FDCA and PEF (polyethylene furanoate).
