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INVISTA™ Spins Off Textronics™ Venture

Textronics Inc., Wilmington, Del., an electro textile materials and system integration venture formed by Wichita, Kan.-based INVISTA Inc., has spun off from Invista to become an independent company.

The convergence of electronics and textile science is opening up exciting new markets for fabrics that conduct, illuminate, sense and warm, said Stacey Burr, CEO, Textronics. Our goal is to integrate electronics in ways that make textiles the provider rather than the container of new functionality.

Using investment funding from Invista; NGEN Partners and Unilever Technology Ventures, both based in Santa Barbara, Calif.; and New York City-based SAS Investors, Textronics will expand its employee base; ramp up development of patented technologies; and commercialize promising apparel, home, industrial and transportation textile applications. The company also will continue to have access to Invistas textile development facilities.

July/August 2005