Performance Fibers buys polyester yarn business in Germany
01 Aug '06
3 min read
An affiliate of Performance Fibers Holdings Inc announced that it has acquired INVISTA Resins & Fibers GmbH's German polyester yarn business. Terms of the sale 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. Performance Fibers, an affiliate of Sun Capital Partners Inc, 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.
"The purchase of these German operations is part of our overall growth strategy," said Greg Rogowski, President and CEO of Performance Fibers. "We are continuing to build on our global platform to provide superior manufacturing, research and development, and sales and marketing to our customers in every region of the world."
The 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.
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 fibersfor sewing thread and technical fabrics used in hoses, safety belts, webbing, slings, filtration fabrics and rope, among other end uses.
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