Performance Fibers Acquires INVISTA’s North America Tire-Cord, Industrial-Filament Assets

Performance Fibers, Richmond, Va., has acquired the North America tire-cord and polyester-industrial-filament businesses of Wichita, Kan.-based INVISTA for an undisclosed price.

The acquisition includes production plants in Salisbury and Shelby, N.C., and Winnsboro, S.C.; and industrial nylon 6, industrial polyester and tire-cord fabric manufacturing assets within INVISTA’s facility in Querétaro, Mexico. INVISTA has retained its PET Resin business in Querétaro and its fine-denier-staple production operations.

“This acquisition strengthens Performance Fibers’ regional footprint in North America and is a gateway for us to grow in South America,” said Greg Rogowski, president and CEO, Performance Fibers. “Combining the assets we have purchased from INVISTA with our current offerings broadens our product portfolio in segments we have identified as growth areas.”

Performance Fibers now operates 12 manufacturing facilities in North America, Asia and Europe. Those facilities employ some 4,000 workers and generate estimated sales totaling $1 billion.

March 18, 2008