“This planned acquisition will enable us to offer a broader range of fibers and fabrics in the Americas and provide customers in this region with a local supply source, while strengthening our global product portfolio and enhancing our research and development capabilities,” said Greg Rogowski, president and chief executive officer of Performance Fibers.
“It is consistent with our strategic growth plan to focus on key segments and emphasizes our ongoing commitment to business in North America.”
"Since Performance Fibers became an affiliate of Sun Capital Partners in 2004, we have worked closely with the management team to aggressively expand the business through strategic acquisitions and investments,” said Kevin Feinblum, Principal, Sun Capital Partners Inc.
“This acquisition reflects Sun Capital's continuing commitment to grow Performance Fibers' business in North America, Asia and Europe, and enhances the company's ability to compete in the global marketplace.”
Performance Fibers, an affiliate of Sun Capital Partners Inc, acquired INVISTA Resins and Fibers GmbH's German polyester yarn business in August 2006. The sale included manufacturing facilities in Bad Hersfeld, Bobingen, and Guben, Germany.
Following the planned acquisition, which is expected to be finalized in the next several months, Performance Fibers will employ over 4,000 worldwide.
Performance Fibers Holdings Inc
marketing@alchempro.com
