Promotion of Invista's Coolmax fibre
24 Sep. 2013
Invista acquires Advansa's Specialty Polyester Apparel Assets
Invista (one of the world’s largest producers of polymers and fibres, and owner of the Lycra® fibre and Coolmax® fabric brands) and Advansa (a leading European polyester fibre producer based in Germany) have reached an agreement through which Invista has acquired Advansa's assets related to the specialty polyester products sector for apparel.
The acquisition includes reversion of Advansa’s licensed rights in greater Europe for the Coolmax® and Thermolite® brands and the acquisition of Advansa’s Thermocool® brand, along with all related technologies and key staff.
Prior to this transaction, Advansa had license rights to use the Coolmax® fabric and Thermolite® fabric trademarks in Europe, Middle East and Africa through a license agreement from Invista, the owner of these two brands. Through this acquisition, Invista is able to market and promote this portfolio of brands and technologies globally, allowing business development for all clients in the apparel textile chain to be more effective and efficient.
“The new unified global business in specialty polyester gives Invista’s clients an outstanding spectrum of branded technologies to choose from, encompassing both the warm and cool fabric spaces with the Thermolite® and Coolmax® brands, respectively, and the Thermocool® brand will enhance our specialties technology portfolio,” said Dave Trerotola, president, Invista Apparel. “We are excited to have the global marketing and commercialization rights for the Coolmax®, Thermolite® and Thermocool® brands. We look forward to a seamless transition for our global customers.”
This transaction does not include Advansa's branded home textiles fibrefill business, its specialty fibre businesses for non-woven and paper industries, or its manufacturing plant in Germany.
Advansa, a leading European producer of polyester fibres, will continue to serve its customers with standard and unbranded fibres as before. "This transaction will significantly strengthen Advansa's balance sheet and will allow us to focus on new investment opportunities as well as continuing to invest in and strengthen our ongoing retained businesses,” said Dr. Heinz Meierkord, chief executive officer, Advansa.
Key staff and consultants involved in the Advansa business have been hired and engaged by Invista, and sales and critical business support processes are already operational.
Maria Cristina Pavarini
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