Invista

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]

For the storage virtualization software product, see EMC Invista.
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

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. "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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