Invista plans to divest apparel & advanced textiles business

The company said it was exploring strategic alternatives for this business - including a sell-off

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BS B2B Bureau Wilmington, Delaware (USA)

Last Updated : Feb 27 2017 | 4:19 PM IST

Invista - an integrated producers of chemical intermediates, polymers and fibres - is exploring strategic alternatives for its apparel & advanced textiles business, a global producer and marketer of premium fibres and fabrics. These alternatives include potentially selling, or retaining and further investing in the business within Invista, a wholly owned subsidiary of Koch Industries.

Comprised of a line-up of global consumer brands - including Lycra and Coolmax fibre - the business delivers comfort and fashion in premium garments and maintains a presence in every major region of the world.

“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,” said Jeff Gentry, chairman and CEO, Invista.

Gentry added, “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. 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.”

Invista offers advantaged technologies for nylon, spandex and polyester that are used to produce clothing, carpet, air bags and countless other everyday products.