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Aquafil signs agreement with Invista
15
Feb '18
Courtesy: Aquafil
Courtesy: Aquafil
Aquafil, a leading player in the production of polyamide 6 (nylon 6), has signed an agreement with Invista, one of the world’s largest integrated producers of chemical intermediates, polymers and fibres, to acquire certain tangible and intangible assets related to Invista’s nylon 6 business activity in Asia Pacific. The closing is expected on March 29, 2018.

The assets to be acquired concern Invista’s business of Polyamide 6 BCF Fibre in Asia Pacific with a turnover of about $50 million and, after business integration, with an expected margin in line with Aquafil group’s consolidated EBITDA margin. The total appreciation of the deal is not relevant for the group and will be financed by its internal resources.

"This is a milestone for the further development of Aquafil in the Asia Pacific region. This deal will accelerate Aquafil’s investment program in the area of Asia Pacific that remains the region with highest potential in terms of demand growth for synthetic fibres," said Giulio Bonazzi, president and CEO of Aquafil.

The transaction does not include Invista’s other businesses in Asia, such as its nylon 6,6, polyester, polyols and licensing businesses and related brands. (RR)

Fibre2Fashion News Desk – India


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