Invista sells engineering polymer solutions business to Radici Group
Italian material supplier Radici Group is buying the engineering polymer solutions business of U.S.-based Invista.
In a statement, Radici Group said the purchase will strengthen its presence in both Europe and the U.S., and it is expected to be completed within 60 days.
The terms of the deal have not been disclosed.
“With the acquisition of the engineering polymer solutions business, Radici Group will be able to significantly increase its production capacity in the U.S. and Europe, where Invista currently has production plants in Chattanooga, Tenn., and Born, The Netherlands,” the statement said. “[We] expect to consolidate assets in Chattanooga with our existing manufacturing facilities in Ohio and Mexico.”
Headquartered in Wichita, Kan., Invista makes nylon 6/6 under the Torzen brand name. Radici Group supplies nylon 6, 6/6 and 6/12 under the Radilon brand name.