Invista considers selling its advanced textiles business
27/02/2017
The business is responsible for producing a range of premium fibres and fabrics for the apparel market, including the Lycra and Coolmax brands. The Cordura brand is part of a different division, performance solutions, and is not up for sale.
Invista is currently assessing its options, which include selling the business. However, it has not ruled out retaining and further investing in it.
“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, chairman and CEO of Invista.
“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,” Mr Gentry added. “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.”
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