Performance Fibers snaps up Invista's German polyester yarn business
31 May '06
3 min read
The acquisition will enable Performance Fibers to provide customers with an expanded breadth of high-quality products, including a range of low-denier and high-denier industrial fibers for sewing thread and technical fabrics used in hoses, safety belts, webbing, slings, filtration fabrics and rope, among other end uses. Other benefits of the acquisition include enhanced R&D and technical capabilities, expanded customer service and improved flexibility of sourcing and delivery. The sale also includes associate commercial operations in Hattersheim, Germany.
"We are excited to expand our European business and to add such a talented and capable group to our team," said Alex Carnevale, VP and Managing Director for Performance Fibers' European operations, who will lead the combined European business.
"Sun Capital continues to demonstrate its confidence in the strength of the Performance Fibers' management team and its strategy in every region," said Phil Dougall, MD of Sun Capital Partners Inc.
Sun European Partners LLP advised Sun Capital on this transaction. The pending acquisition is still subject to various approvals.
Performance Fibers is one of the world's leading suppliers of high-tenacity polyester and a global manufacturer of other man-made industrial fibers and fabrics. With manufacturing facilities in North America, Asia and Europe, its products are used in a wide range of consumer and industrial applications.
marketing@alchempro.com
