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Kordsa acquires Invista's Chattanooga facility

24 Mar '17

1 min read

Kordsa, a leading global player in the tire, composite, and construction reinforcement technologies, has supported its existing investment in the US market with a new purchase. Kordsa’s subsidiary in the US, Kordsa Incorporated, has acquired the Chattanooga facility of the Luxembourg-based Invista Corporation Company in the US state of Tennessee.

Kordsa aims to maintain its leadership position in the US market with this new facility. With this acquisition, which will ensure the sustainability of Kordsa’s facilities in the US, Kordsa Inc. will have the legal right over the land in which Invista and Kordsa were formerly located including the existing infrastructure, power generation station, and salt and polymer production lines. Transfer of the assets is expected to be completed in 3 months after obtaining required permits and legal procedures. (GK)

Fibre2Fashion News Desk – India