NILIT to acquire INVISTA European nylon apparel business
30 Jan '06
3 min read
Nylon producer Nilit LTD announced that the company signed an agreement with INVISTA to acquire its nylon apparel facility in Oestringen, Germany and to buy INVISTA's nylon apparel product, from Gloucester, UK. INVISTA will continue to operate the apparel facility in Gloucester and sell all of its production through NILIT.
Under the deal, INVISTA will grant NILIT an exclusive license for the trademarks TACTEL fiber, CORDURA fabric and SUPPLEX fabric in Europe, the Middle East and Africa.
“I am personally very committed to our agreement with INVISTA. The combination of INVISTA's apparel fiber production, including its premier brands, with NILIT's innovative SENSIL specialty polyamide yarns, customized polymers, unique spinning techniques, innovation and history of long term relationships is very promising."
It will help all our customers better meet the growing demands of an increasingly sophisticated consumer” said Michael Levi, Chairman of NILIT.
“As clearly shown by this deal, NILIT and INVISTA can play important roles in the European textile industry. This agreement will allow INVISTA to reinforce its position in Europe as a world leader in quality branded apparel and textile innovation."
"INVISTA is committed to serve European fabric mills with its flagship LYCRA brand,” William Ghitis, president of INVISTA Apparel commented after the deal was signed.
Known LYCRA brand applications include Xtra Life LYCRA fabric for chlorine-resistant swimwear, LYCRA T-400 fiber for denim and Black LYCRA fiber for intimate apparel and ready-to-wear (RTW).
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