Performance Fibers to buy two fibers plant from Invista

04 Dec '07

3 min read

An affiliate of Performance Fibers Holdings Inc (“Performance Fibers”) announced that it has signed a definitive agreement to acquire the North America tire cord and polyester industrial filament businesses of INVISTA S.á r. l. and its affiliates (“INVISTA”).

Included in the sale are manufacturing facilities in Salisbury, N.C, Shelby, N.C. and Winnsboro, S.C.; as well as industrial polyester, industrial nylon 6, and tire cord fabric-producing assets currently operating inside INVISTA's Querétaro, Mexico site. The purchase agreement was signed on Nov. 30, 2007. Terms of the agreement were not disclosed.

Affected operations include the manufacturing of industrial polyester and nylon 6 fibers for use in a wide range of end uses such as tires, power transmission and conveyor belts, sewing thread, auto safety, rope, cordage, netting and fabrics for tires.

INVISTA Querétaro's PET Resin business and its contract manufacturing operations for fine denier staple are not included in the agreement.

Many of the products to be acquired are complementary with Performance Fibers' offerings of high-tenacity polyester used in a wide range of segments including energy, environment, architectural design, transportation, lifestyles and leisure, safety and security, and specialty.

The purchase would expand Performance Fibers' core polyester offerings with additional industrial polyester sewing thread fibers, and add nylon 6 fibers and fabrics.

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