Performance Fibers To Buy INVISTA Yarn Business
An affiliate of Richmond, Va.-based
Performance Fibers Holdings Inc. has signed a letter of intent to acquire the polyester yarn
business of Germany-based INVISTA Resins & Fibers GmbH, including its manufacturing and
commercial operations, for an undisclosed price.
Performance Fibers said the acquisition is a key component of its growth strategy. The company has expanded its dimensionally stable polyester yarn manufacturing facility in China, doubling capacity there twice since early 2005 and planning a further doubling of that capacity by 2008 (See “Performance Fibers To Expand, www.TextileWorld.com, November/December 2005). In August 2005, it acquired Diolen Industrial Fibers Inc.’s Scottsboro, Ala.-based North American business, which includes high-tenacity polyester yarn manufacturing and fabric converting operations (See “Mills Announce Acquisitions, Closings,” www.TextileWorld.com , October 2005).