Aquafil signs an agreement with Invista reinforcing its presence in Asia Pacific
Arco (TN, Italy), 5th February 2018 - Aquafil S.p.A. [ECNL] has signed an agreement with INVISTA, one of the world's largest integrated producers of chemical intermediates, polymers and fibres, to acquire certain tangible and intangible assets related to INVISTA’s nylon 6 business activity in Asia Pacific.
The assets to be acquired concern INVISTA’s business of Polyamide 6 BCF Fibre in Asia Pacific with a turnover of about 50 million dollars and, after business integration, with an expected margin in line with Aquafil Group’s consolidated EBITDA margin. The total appreciation of the deal is not relevant for the Group and will be financed by its internal resources.
Closing is expected March 29, 2018.
"This is a milestone for the further development of Aquafil in the Asia Pacific region - commented Giulio Bonazzi, President and CEO of the Group - This deal will accelerate Aquafil’s investment program in the area of Asia Pacific that remains the region with highest potential in terms of demand growth for synthetic fibres."
The transaction does not include INVISTA’s other businesses in Asia, such as its nylon 6,6, polyester, polyols and licensing businesses and related brands.