Invista is exploring strategic alternatives for its Apparel & Advanced Textiles business, including Lyrca and Coolmax fiber. These alternatives include potentially selling, or retaining and further investing in the business within Invista.
“A key element of our Market-Based Management business philosophy is to continuously assess the external value of our assets against our internal value to make sure that the asset is owned by the company that values it most highly,” said Jeff Gentry, Invista chairman and CEO, in a statement.
“The Apparel business is a strategic part of our portfolio – we are extremely pleased with the results of the business and remain confident in its continued and future success. We are simply considering all available options,” Gentry aded. “In the event that no other company values the business more than we do, we will gladly hold the business and continue to invest for the future.”
Details about the business and exploration process are confidential. Invista has retained Goldman, Sachs & Co. to assist the company in exploring strategic alternatives.
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. The company’s technologies for nylon, spandex and polyester are used to produce clothing, carpet, air bags and other everyday products. A wholly owned subsidiary of Koch Industries and headquartered in the United States, Invista has more than 50 locations around the world.
Photo courtesy Coolmax
