Among various alternatives, Invista is considering to sell its Apparel & Advanced Textiles business, a global producer and marketer of fibers and fabrics including globally renowned consumer brands like Lycra and Coolmax.
“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,” commented Jeff Gentry, chairman and CEO, Invista. “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, wholly owned by Koch Industries since 2004, has retained Goldman, Sachs & Co. to assist the company in exploring strategic alternatives.