The Waynesboro INVISTA will see the new swimwear manufacturer China owners, next year.
According to reports, the final agreement Invista has sold Shandong Ruyi textile and apparel INVISTA Senior Investment Holdings (a company) of the enterprise, the four business units of a Invista.
Shandong Ruyi Investment Holdings is one of the largest textile manufacturers in China and ranks first in the top 500 China Textile and garment enterprises, said. The company operates 13 domestic industrial parks, serving the global customer base of six continents.
The agreement is expected to be undisclosed at mid-2018 and the acquisition price, said the release.
Clothing and advanced textile business is a global production and marketer of fibers and fabrics including lycra and Coolmax fibers. By INVISTA fibers can be used in diapers, swimwear, sportswear, underwear and many other types of clothes.
Waynesboro factory is Lycra, is a research and development facility, support fiber innovation and new technology. There are 400 employees in the factory.
Shandong Ruyi investment holding intends to maintain the unique identity of business. The current vision, strategy and organizational structure will remain in place, benefiting from the retail experience of global textile and its new shareholders.
It’s not clear how the work will be affected by sales, but from Invista and investment companies, they should not be affected. All of the relevant technology, business, business and administrative personnel, of whom about 3000 employees worldwide, are included in the sale, the statement said.
“We don’t expect any change, because of business transactions,” says Jodie Stutzman, director of public affairs at Invista”. There will be only one different owner approaching.”
The sales include asset related manufacturing, research and Development Center (Waynesboro factory) and sales offices all over the world.
“INVISTA world-class assets and consumer recognition of the brand is the perfect combination of the growth of textile related products we fit,” said Cho on sub pay, Shandong Ruyi investment holdings in the release of chairman of the board of directors. “Over the past few decades, the Lycra brand has changed the clothing industry, and has continued to this day.
“We are committed to pushing this business to a higher level through innovative investment and consumer recognition of the brand’s business portfolio,” continued autumn.” We also see the opportunity to use the existing capabilities of Shandong Ruyi Invest-holding Company, including our spandex manufacturing assets, to further enhance the position of A company in the global market.”
Including the sale of swimwear manufacturer China brands including INVISTA focusing fiber and Lycra fiber composite hyfit, Coolmax fiber, Thermolite fiber and Lycra fiber insulation, Elaspan fiber, Supplex fiber and Tactel fiber products, release said.
Sales also include the production and distribution of terathane poly (THF ether glycol), 1,4- butanediol and tetrahydrofuran.
“The apparel industry has always been a strategic and valued part of our portfolio,” said Jeff Gentry, chairman and CEO of the swimwear manufacturer China, in a press release. “We hired the market because we wanted this business to be created by the company, which could create the greatest value for customers, employees and shareholders. In this case, we believe that the knowledge and capacity of Shandong Ruyi investment holding will enable the business to flourish and achieve success in the long run.
Early in March this year, INVISTA is looking for alternatives, for textile and garment enterprises. The company is looking for a “strategic choice” which means that the sales of clothing and advanced textile business or business retention and further investment in invista.
Now it looks like the swimwear manufacturer China has embarked on a sales route.