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Koch Industries Subsidiaries To Purchase INVISTA

Koch Industries Subsidiaries To Purchase INVISTA Will Integrate KoSa with former DuPont TextilesandInteriors UnitWICHITA, Kan., and WILMINGTON, Del., Nov. 17, 2003 Koch Industries, Inc. announced today that its subsidiaries have reached a definitive agreement with DuPont to purchase INVISTA, formerly DuPont TextilesandInteriors, for $4.4 billion in cash. The two subsidiaries are KED Fiber Ltd. and KED Fiber, LLC. Closing is expected in the first half of 2004, subject to regulatory approvals and customary closing conditions.The purchase will include all of INVISTAs businesses, including Apparel, Interiors and Industrial, and Intermediates. In addition, it includes INVISTAs extensive portfolio of trademarks and brands including: Lycra®, Stainmaster®, Coolmax®, Thermolite®, Cordura®, Supplex®, Tactel®, Antron®, DBE®, and C12®, to name a few, as well as over 8,000 patents and significant proprietary intellectual property. Koch will integrate its KoSa business and its subsidiaries, global manufacturers of commodities and specialty polyester products, into INVISTA.This acquisition is an excellent fit with our capabilities and vision for long-term growth, said Charles G. Koch, chairman and chief executive officer of Koch Industries. By combining INVISTAs many capabilities and strong brands, primarily in nylon and spandex, with the polyester businesses of our KoSa subsidiaries, we will create a diverse company, well-positioned to compete in the global fibers and resins markets, long term. We are proud to carry with us the heritage we gained at DuPont and thrilled to be headed toward a new company that has proven competitive capabilities, sees growth opportunities in our businesses, and does not feel bounded by current industries or product lines, said Steve McCracken, president and chief executive of INVISTA. While being part of a different and privately held company will be a significant change for us, it will certainly offer opportunities to improve our focus on long-term success and more stability in weathering business cycles. McCracken added. It should also provide the scale and scope of resources well need to more effectively compete in the challenging branded and commodity markets we serve globally. Together with KoSa, we look forward to creating a renewed superior value offering for our customers.The new company will be an independent subsidiary of Koch Industries, managed by its own board of directors. Press Release Courtesy of Koch Industries Inc. and INVISTA Inc. November 2003




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