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Aquafil strengthens its position in the US

05/06/2019
Italian yarn company Aquafil has completed the acquisition of O’Mara Incorporated, a US-based manufacturer of nylon, polypropylene and polyester fibres. It has paid $40.5 million for full control over the company, which is based in North Carolina. 

Announcing this deal, which was completed through its US subsidiary, Aquafil said the integration of O’Mara would “accelerate the globalisation process” of its textiles business and would have “positive consequences” for its Econyl and Dryarn fibre brands. It added that it will also give it access to the US market in sectors like athletic apparel, hosiery, fashion and accessories. 

In addition, Aquafil said that is expects to benefit from the trade agreements that the US has with certain countries in Central and South America, which give apparel produced in those countries using yarns of US origin exemption from some tariffs.