China is one of the fastest growing markets in the world and from today Aquafil has an even more important presence in this strategic area for its development, thanks to the binding agreement with INVISTA reached precisely in these days. INVISTA is one of the world’s largest integrated producers of chemical intermediates, polymers and fibree.
The assets to be acquired concern INVISTA’s business of Polyamide 6 BCF Fibre in Asia Pacific with a turnover of about 50 million dollars and, after business integration, with an expected margin in line with Aquafil Group’s consolidated EBITDA margin. Closing is expected March 29, 2018.
“This is a milestone for the further development of Aquafil in the Asia Pacific region – commented Giulio Bonazzi, President and CEO of the Group – This deal will accelerate Aquafil’s investment program in the area of Asia Pacific that remains the region with highest potential in terms of demand growth for synthetic fibres.”