NILIT, a manufacturer of nylon 6,6 for thermoplastics and apparel applications as part of their expansion plan has signed an agreement to acquire INVISTAâ€™s Americana, Brazil, manufacturing site with intent to continue the siteâ€™s nylon 6,6 operations.
The transaction is anticipated to close in the fourth quarter of 2014 pending receipt of necessary regulatory approvals. Terms of the transaction were not publically disclosed as both Nilit and Invista are privately held.
According to Fabio Kahn, Managing Director, Nilit Fibers Division, in addition to their sites in the U.S., China and Israel, this acquisition of Americana manufacturing site complements Nilitâ€™s global nylon 6,6 manufacturing operations. South America in general â€” and Brazil in particular â€” both represent a key opportunity for Nilit. They have been active in this market since the early 1990s and have developed an excellent reputation for quality and service, with a growing number of active customers. They plan to increase the DTY capacity and to reinforce their local presence.
Zion Ginat, General Manager, Nilit Group, said that the valuable assets at the Americana site will allow Nilit to increase the value they provide to their customers. With this acquisition, they can significantly reinforce Nilit's commitment to the Brazilian market , enabling them to expand sales to other customers, especially in the circular and warp knitting segments, by taking advantage of a very efficient, well-maintained and highly established site. A local production presence will guarantee a fast market penetration and, in addition, a footprint in Brazil, which will allow further potential expansions. They look forward to cooperating with the local workforce.
For Invista, this transaction will allow them to focus their energy in Brazil on their growing LycraÂ® spandex business. As, they are making very significant investments in their PaulÃnia, Brazil, spandex manufacturing operation and in marketing initiatives in Brazil, said Dave Trerotola, president of Invista Apparel & Advanced Textiles.
Invista believe the Americana siteâ€™s nylon 6,6 operations will enhance Nilitâ€™s global manufacturing presence.
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