Koch Industries announced recently that it plans to divest its wholly-owned subsidiary INVISTA Chemical Fiber Business. INVISTA originally belonged to the DuPont Textiles Division and was included by Coriolis for $ 4.4 billion 12 years ago.
According to people familiar with the matter, Italy's Landic Group, the global leader in engineering plastics, synthetic fibers and the non-woven industry, has publicly stated its willingness to acquire. In addition, there are many chemical fiber companies from China and India with great interest.
The industry generally speculates that this move by Koch Industries aims to optimize the group's investment and further use "good steel" on those "blades" with low risk and high profit.
The person in charge of Koch Industries has initiated negotiations with INVISTA on this matter. As the latter has not yet made any substantial comments on the matter, it is currently unclear whether the group will facilitate the transaction through a third party.
Dave Trerotola, President of INVISTA Apparel and Advanced Textiles Business, gave a brief introduction to the company's recent situation: "Last year, we implemented a brand new marketing strategy for our flagship product, Lycra®, and achieved great results. The company's revenue last year reached 120 Billion US dollars, accounting for 10% of the group's total. "Lycra®, a well-known spandex yarn brand, was first created by DuPont in 1958.