Chemical intermediates, polymers and fibre firm Invista is exploring a potential sale of its apparel and advanced textiles business, which includes the Lycra and Coolmax fibres.
The firm has appointed Goldman Sachs to examine “strategic alternatives” for the fibre and fabrics business, which could include selling or retaining and further investing in the business within Invista.
“The apparel business is a strategic part of our portfolio—we are extremely pleased with the results of the business and remain confident in its continued and future success,” said Jeff Gentry, Invista chairman and chief executive. “We are simply considering all available options.”
He added: “In the event that no other company values the business more than we do, we will gladly hold the business and continue to invest for the future.”