Koch subsidiaries complete purchase of former DuPont Fibers Unit
DuPont and subsidiaries of Koch Industries Inc. have finalized the sale of Invista, formerly DuPont Textiles & Interiors, for $4.2 billion, including the assumption of debt and certain joint venture and equity interests covered under a non-binding letter of intent. Going forward, the company will conduct business as Invista.
"The new Invista has many capabilities, recognized brands and an innovative team, and we believe our long-term outlook is excellent," said Jeff Walker, Invista's CEO. "Our focus for the near future is to enhance this business' ability to create superior value for our global customers. We believe that this combination of Invista's strengths, primarily in nylon and spandex, and KoSa's polyester capabilities will position us to compete successfully in the global resins and fibers markets."