Invista Inc. said Friday it is exploring strategic alternatives for its Apparel & Advanced Textiles business, a global producer and marketer of premium fibers and fabrics, confirming a report in WWD in November that a sale was being pursued.
Invista, a unit of Koch Industries, said these alternatives include potentially selling or retaining and further investing in the business within Invista.
Comprised of a lineup of well-known, global consumer brands — including Lycra and Coolmax fibers — the business specializes in performance materials used in apparel with 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, chairman and chief executive officer of Invista, headquartered in Wilmington, Del.
“The apparel business is a strategic part of our portfolio,” Gentry said. “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. In the event that no other company values the business more than we do, we will gladly
Follow WWD on Twitter or become a fan on Facebook.
Read More…