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Nylstar To Acquire AlliedSignal Nylon Yarn

Nylstar Inc., Greensboro, N.C., a joint venture between Rhodia and SNIA, recently issued a letter of intent to acquire AlliedSignals textile nylon yarn production unit in the United States. Nylstar hopes to increase its sector lead in Europe, while bolstering its U.S. presence.The target business for the acquisition is based on AlliedSignal facilities in Columbia, S.C., with a workforce of approximately 200 and annual production capacity of more than 15,000 tons of nylon 6 textile yarn.According to Nylstar, the reshaping of operations at the facility will be based on investment in new production lines that are also suitable for the manufacture of nylon 6.6, with annual revenues of approximately $80 million. The decision to enter the American market directly serves the objective of enlarging the companys market share while enabling a rapid U.S. introduction for more technologically advanced policies oriented towards high-product quality that have proved successful in Europe, the company says.This agreement is another step towards globalizing our products and our ability to operate in a number of differing markets, said Carlo Veronelli, Nylstars general manager. Our key territory is still Europe however; thats where Nylstar has made its major commitment to offering technologically advanced products that meet the needs of customers, designers and the distribution industry alike.

September 1999