INVISTA Affiliate signs agreement to acquire yarn processing assets of Mitex Zwirnerei und Vertriebs GmbH: a logical strategic acquisition

INVISTA confirms its commitment to the European flooring industry

August 10th, 2006 -- INVISTA affiliate, Arteva Specialties GmbH, has agreed to acquire the yarn processing assets of Mitex, a leading yarn processing company in North-East Bavaria (Germany).

“INVISTA is committed to the European flooring business,” said Alan Wolk, president, INVISTA Interiors. “We are constantly evaluating opportunities to grow our business and offer the best value proposition to our customers.

“The integration of Mitex’s yarn processing capabilities will enable us to efficiently develop new finished yarn products and expand our portfolio of product offerings to customers,” added Russell Pike, vice president, INVISTA Interiors.

INVISTA (and its predecessor companies) and Mitex have had a successful commercial relationship for the past 25 years.

“Mitex has been important to the economy in Michelau since we started our yarn processing in 1969. By linking our knowledge and assets with INVISTA and INVISTA’s Antron® carpet fibrr, we increase the competitiveness of our business and keep jobs here in Michelau”, said Franz Josef Angele, owner of Mitex Zwirnerei und Vertriebs GmbH.

The closure of this deal is expected within 30 to 60 days, pending regulatory approvals.

INVISTA Interiors provides innovative solutions for residential, commercial and automotive interiors and for personal use in bedding, flooring and furniture with products ranging from sheets and pillows to rugs and carpets. INVISTA Interiors Europe is active in Residential Flooring, Commercial & Transportation Flooring and Home & Hospitality Interiors.

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