INVISTA
TypeSubsidiary
IndustrySpandex, Resin, Chemical, Polymer
Founded
  • February 2003 (2003-02) (as DuPont Textiles and Interiors)
  • April 30, 2004 (2004-04-30) (as INVISTA)
Headquarters
Wichita, Kansas
,
United States
Number of employees
10,000
ParentKoch Industries
Websitewww.invista.com

Invista (stylized as INVISTA), headquartered in Wichita, Kansas, United States, is a fiber, resin and intermediates company. It has about 10,000 employees in over 20 countries worldwide.[1] The predecessor DuPont Textiles and Interiors was formed from DuPont's textile fibers division in February 2003.[2] The company was given the trademarked name INVISTA and was then sold to privately owned Koch Industries on April 30, 2004 for US$4.2 billion.[3][4] Koch Industries combined the newly acquired organization with their KoSa subsidiary to complete the INVISTA company.[4]

Operations

INVISTA's products include many brands.

In 2008, Invista sued Rhodia, a chemical company, for theft and misappropriation of a chemical process technology used to produce nylon 6,6.[5]

In February 2009, INVISTA announced a refinancing and capitalization plan that had reduced its debt by $1.6 billion since the previous June.[6] In the same year, Invista was the launch sponsor for WWDChina Week in Review, a weekly fashion publication.[7] Also in 2009, INVISTA agreed to pay a $1.7 million civil penalty and spend up to $500 million to correct self-reported environmental violations at its facilities in seven states.[8][9] Prior to the settlement, the company had disclosed to the EPA more than 680 violations after auditing 12 facilities acquired from DuPont in 2004.[10][11] In June 2012, DuPont & INVISTA agreed to an out of court settlement to resolve indemnification issues related to these environmental issues.[12]

In 2019, Invista sold its Apparels & Advanced Textiles business to Shandong Ruyi. The sale included brands Lycra, Coolmax, and Thermolite and was said to have costed more than $2 billion.[13] Koch Industries still retains a minority stake in The Lycra Company.[14]

References

  1. ↑ Carroll, Jeremy (4 October 2013). "Invista and Ingenza team up for bio-derived chemicals". Plastics News. Retrieved 13 December 2021.
  2. ↑ "DuPont Announces Board of Directors for DuPont Textiles & Interiors" (Press release). dupont.com. May 1, 2003. Archived from the original on 16 May 2006. Retrieved 13 December 2021.
  3. ↑ "DuPont and Koch Subsidiaries Agree On Sale of INVISTA Fibers Unit" (Press release). dupont.com. November 17, 2003. Archived from the original on 16 May 2006. Retrieved 13 December 2021.
  4. 1 2 "Koch Subsidiaries Buy Fibers Unit from DuPont" (Press release). invista.com. April 30, 2004. Archived from the original on May 24, 2011. Retrieved 2011-02-24.
  5. ↑ "US: Invista files lawsuit over nylon trade secrets". Just-Style. Nov 14, 2008.
  6. ↑ Moon, Chris (Feb 10, 2009). "Wichita-based Invista reduces debt, adds capital". Wichita Business Journal.
  7. ↑ "WWD Debuts WWDChina Week In Review". Business Wire. Mar 12, 2009.
  8. ↑ "United States Announces Largest Settlement Under Environmental Protection Agency's Audit Policy" (Press release). U.S. Department of Justice. 9 April 2009. Retrieved 2010-05-31.
  9. ↑ "United States Announces Largest Settlement Under Environmental Protection Agency's Audit Policy" (Press release). U.S. Environmental Protection Agency. 13 April 2009. Retrieved 2010-05-31.
  10. ↑ Levi Wolters (13 April 2009). "Invista to correct EPA violations". Wichita Business Journal.
  11. ↑ "Invista, Agencies File Agreement" (Press release). Invista. 13 April 2009. Archived from the original on 5 September 2010. Retrieved 2010-05-31.
  12. ↑ "Invista and DuPont (DD) Settle Litigation in NY District Court".
  13. ↑ "Chinese Luxury Firm Closes Long-Delayed $2 Billion Lycra Deal". Bloomberg.com. 2019-02-01. Retrieved 2020-11-02.
  14. ↑ Murdoch, Kane Wu, Scott (2020-08-06). "'China's LVMH' Shandong Ruyi resists Lycra sale in favour of IPO amid debt crisis: sources". Reuters. Retrieved 2020-11-02.{{cite news}}: CS1 maint: multiple names: authors list (link)
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