Brazil : NILIT acquires Brazilian nylon 6.6 facility of Invista

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NILIT acquires Brazilian nylon 6.6 facility of Invista

20
Oct '14

NILIT, a producer of nylon 6.6 for thermoplastics and apparel applications said it will acquire the Brazilian manufacturing plant of INVISTA.

NILIT said it will continue the site’s nylon 6.6 operations and the transaction is expected to close in the fourth quarter of 2014, pending receipt of necessary regulatory approvals.

Neither NILIT nor INVISTA disclosed the terms of the transaction as both companies are privately held.

Dave Trerotola, President of INVISTA Apparel & Advanced Textiles said, “We believe the Americana site’s nylon 6.6 operations will enhance NILIT’s global manufacturing presence.”

Fabio Kahn, MD at NILIT Fibers division said, "In addition to our sites in the US, China and Israel, this acquisition complements NILIT’s global nylon 6.6 manufacturing operations.

“South America in general and Brazil in particular, both represent a key opportunity for NILIT and we plan to increase our DTY capacity and to reinforce our local presence,” he added.

“With this acquisition, we can significantly reinforce NILIT's commitment to the Brazilian market, especially in the circular and warp knitting segments,” Zion Ginat, GM at NILIT Group said.

He added, “A local production presence will guarantee a fast market penetration and, in addition a footprint in Brazil, which will allow further potential expansions.”

NILIT is an integrated nylon 6.6 business engaged worldwide in fibers for the textile industry and engineering plastics for the automotive and electrical industries.

It produces nylon 6.6 yarns in a broad selection of dtex and filament counts, luster levels, and types of cross-sections for legwear, bodywear, intimate apparel and activewear.

With leading brands including Lycra, Coolmax, Cordura, Stainmaster and Antron, INVISTA is one of the world’s largest integrated producers of chemical intermediates, polymers and fibers.

Its technologies for nylon, spandex and polyester are used to produce clothing, carpet, car parts and countless other everyday products. (AR)

Fibre2fashion News Desk - India

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