Performance Fibers Strengthens NA Presence through Acquisition

Performance Fibers Holdings Inc. has signed a deal to buy North American tyre cord and polyester filament producer Invista Sárl. The agreement includes Invista plants in Salisbury and Shelby, North Carolina and Winnsboro, South Carolina; as well as several production assets currently operating inside Invista’s Querétaro, Mexico, facility. Terms of the agreement, signed on November 30, have not been disclosed.

Affected operations include the manufacturing of industrial polyester and nylon 6 fibres for use in a wide range of end uses, including tyres, as well as netting and fabrics for use in tyre manufacture. INVISTA Querétaro’s PET Resin business and its contract manufacturing operations for fine denier staple are not included in the agreement.

“This planned acquisition will enable us to offer a broader range of fibres and fabrics in the Americas and provide customers in this region with a local supply source, while strengthening our global product portfolio and enhancing our research and development capabilities,” said Greg Rogowski, president and chief executive officer of Performance Fibers. “It is consistent with our strategic growth plan to focus on key segments and emphasises our ongoing commitment to business in North America.”