INVISTA to explore strategic alternatives for its Apparel & Advanced Textiles business
INVISTA is exploring strategic alternatives for its Apparel & Advanced Textiles business, a global producer and marketer of premium fibers and fabrics. These alternatives include potentially selling, or retaining and further investing in the business within INVISTA.
Comprised of a line-up of powerful, global consumer brands—including LYCRA® and COOLMAX® fiber—the business delivers comfort and fashion in premium garments and maintains a presence in every major region of the world.
“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, INVISTA chairman and CEO.
“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,” Gentry said. “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.”
Details about the business and exploration process are confidential. INVISTA has retained Goldman, Sachs & Co. to assist the company in exploring strategic alternatives.
With leading brands including LYCRA®, COOLMAX®, CORDURA®, STAINMASTER® and ANTRON®, 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. For more information, visit INVISTA.com, Facebook.com/INVISTAglobal and Twitter.com/INVISTA.