Invista’s Apparel and Advanced Textiles business is at a crossroads.
The company, which develops and markets products like the Lycra and Coolmax fibers, today announced that it was exploring its options related to this business unit, which could include either a sale or continued investment.
“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, Invista chairman and CEO.
“The apparel business is a strategic part of our portfolio—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,” Gentry said. “In the event that no other company values the business more than we do, we will gladly hold the business and continue to invest for the future.”
Invista has retained Goldman, Sachs & Co. to assist the company in exploring strategic alternatives.
Invista innovations are in nylon, spandex and polyester are used in clothing, carpet, air bags and myriad other products. The company is a wholly owned subsidiary of Koch Industries.