Posted October 20, 2014

 

AMERICANA, Brazil and MIGDAL HAEMEK, Israel – NILIT®, a manufacturer of nylon 6,6 for thermoplastics and apparel applications, announced that it has signed an agreement to acquire INVISTA’s Americana, Brazil, manufacturing site with intent to continue the site’s nylon 6,6 operations.
 
The parties anticipate the transaction will close in the fourth quarter of this year pending receipt of necessary regulatory approvals. Terms of the transaction were not publically disclosed as both Nilit and Invista are privately held. 
 

In reporting the news in a news update email, Alasdair Carmichael of Carmichael International and PCI Fibres, noted, “It has been known for a few months that Invista was planning to withdraw from the Americana operation and it was felt that Nilit was the most likely candidate to be the buyer. Nilit already has a significant DTY and covering operation in Brazil, which it acquired in Q4 2013 from Scalina – a major Brazilian manufacturer of pantyhose, leggings, tights, lingerie and slimming shapewear.”

 

“I want to extend thanks and appreciation to all Invista employees in Americana for their dedication through this process,” said Dave Trerotola, president of Invista Apparel & Advanced Textiles. “We believe the Americana site’s nylon 6,6 operations will enhance Nilit’s global manufacturing presence, and we wish them well as the Americana site opens a new chapter in its history.”
 

Global nylon 6,6 operations complemented

 

In addition to Nilit’s sites in the U.S., China and Israel, this acquisition complements its global nylon 6,6 manufacturing operations, according to Fabio Kahn, managing director, Nilit Fibers Division.

 

“South America in general – and Brazil in particular – both represent a key opportunity for Nilit. We 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. We plan to increase our DTY capacity and to reinforce our local presence."
 
Zion Ginat, general manager, Nilit Group, added, “The valuable assets at the Americana site will allow Nilit to increase the value we provide to our customers. With this acquisition, we can significantly reinforce Nilit's commitment to the Brazilian market, enabling us 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. We look forward to cooperating with the local workforce.”
 
Trerotola added that Invista Apparel remains committed to Brazil, and this transaction will allow the company to focus its energy in Brazil on its growing Lycra® spandex business.

 

“We are making very significant investments in our Paulínia, Brazil, spandex manufacturing operation and in marketing initiatives in Brazil,” Trerotola said.