MOSCOW (MRC) -- INVISTA, one of the world’s largest producers of polymers and fibers, and ADVANSA, a leading European polyester fiber producer have reached an agreement whereby INVISTA acquired ADVANSA’s assets related to the Specialty Polyester products sector for apparel end uses, said INVISTA.
This acquisition includes reversion of ADVANSA’s licensed rights in greater Europe to the COOLMAX and THERMOLITE brands and acquisition of ADVANSA’s THERMOCOOL brand, along with all related technologies and key staff. Today’s announcement further represents INVISTA’s longstanding commitment to the differentiated fiber and apparel industries.
Prior to this transaction, ADVANSA had license rights to use the COOLMAX fabric and THERMOLITE fabric trademarks in Europe, the Middle East and Africa through a license agreement from INVISTA, the owner of these two brands. Through this acquisition, INVISTA is able to market and promote this portfolio of brands and technologies globally, allowing business development for all clients in the apparel textile chain to be more effective and efficient.
The transaction does not include ADVANSA's branded home textiles fiberfill business, its specialty fiber businesses for nonwovens and paper industries, or its manufacturing plant in Germany. ADVANSA, a leading European producer of polyester fibers, will continue to serve its customers with standard and unbranded fibers as before.
"This transaction will significantly strengthen ADVANSA's balance sheet and will allow us to focus on new investment opportunities as well as continuing to invest in and strengthen our ongoing retained businesses," said Dr. Heinz Meierkord, chief executive officer, ADVANSA.
As MRC wrote before, INVISTA Performance Technologies has acquired from La Seda de Barcelona SA intellectual property relating to its leading purified terephthalic acid (PTA), polyethylene terephthalate (PET) and related process technologies, including the full rights to exclusively license the technologies in the region comprising Europe, the Middle East and Africa.
INVISTA is one of the world’s largest integrated producers of chemical intermediates, polymers and fibers. The company’s advantaged technologies for nylon, spandex and polyester are used to produce clothing, carpet, car parts and countless other everyday products. Headquartered in the United States, INVISTA operates in more than 20 countries and has about 10,000 employees.
MRC