Invista to buy Honeywell assets
US-based Invista announced yesterday it had reached a definitive agreement to purchase the assets of Honeywell's nylon-6 bulked continuous filament (BCF) business in the Asia-Pacific, including the American company's plant in Shanghai.
The deal was made via a wholly foreign-owned enterprise in China, and asset transfer is expected to take place early next year, subject to regulatory approvals and customary closing conditions. The purchase will include the Shanghai plant, which produces white dyeable and solution-dyed nylon-6 BCF. It also has processing equipment to make heathered, twisted and heat-set yarns. Invista plans, via the acquisition, better to serve the needs of mill customers and consumers in the Asia-Pacific by adding locally produced BCF to its present Antron carpet fibre and Stainmaster carpet offerings, said Alan Wolk, president of Invista Interiors. He said the company hoped to build from its current strengths and apply its resources and capabilities to improving and growing the business. The Shanghai plant also provides an excellent growth platform for future expansion of its nylon 6,6 business in the Asia-Pacific. Invista plans to integrate the production and marketing of type-6 nylon BCF into its business offering in the Asia-Pacific. This will expand the portfolio of branded, differentiated and unbranded nylon BCF offerings to customers in the region for the commercial, residential, transportation and rug segments. "We are constantly evaluating opportunities to grow our business and offer the best value proposition to our customers," said Dilip Kumar, vice president of Invista Interiors Asia-Pacific. "Adding nylon-6 BCF to our product line in the Asia-Pacific gives us a broader product offering for our customers, so they have options to select the right product for their end-use applications." Invista currently owns or operates - independently or in joint ventures - 12 manufacturing facilities producing a variety of products across Asia, including in Singapore, Taiwan and China. The Antron brand is well represented in the Asia-Pacific commercial-carpet market, in high-performance commercial carpets from leading mills in China, Thailand, Japan, South Korea, Australia and New Zealand. Invista also has a significant share of residential business in Australia and New Zealand with its Stainmaster brand.
|
