Performance Fibers snaps up Invista's German polyester yarn business
31 May '06
3 min read
An affiliate of Performance Fibers has signed an agreement to acquire Invista Resins & Fibers GmbH's German polyester yarn business. Terms of the agreement were not disclosed.
The acquisition, which includes both commercial and manufacturing operations in Germany, represents the third major expansion of Performance Fibers' business in the past year and is a key component of the company's growth strategy.
In August 2005, Performance Fibers, an affiliate of Sun Capital Partners Inc, the US-based private investment firm, announced the acquisition of the North American business of Diolen Industrial Fibers Inc, a leading producer of high-tenacity polyester yarns used in a wide variety of technical applications and tire reinforcement.
In January 2005, Performance Fibers announced a Greenfield expansion of its existing manufacturing operations in China, strengthening their position as a leading supplier of industrial fibers in China.
"The addition of these German operations will expand Performance Fibers' presence in Europe, add to our product portfolio and enhance our technical and research capabilities," said Greg Rogowski, President and CEO of Performance Fibers. "This agreement demonstrates our strong commitment to the industry and to our customers in every region of the world."
The current acquisition includes three manufacturing facilities - one each in the German cities of Bad Hersfeld, Bobingen and Guben - which produce industrial fibers for sewing thread, technical textiles and other industrial and specialty applications.
marketing@alchempro.com
