Aquafil Selling Engineering Plastics Business
Cartersville, GA, April 9, 2013 -- Aquafil Group said it is selling its engineering plastics business unit to Domo Chemicals.
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The Aquafil unit has a global presence in Europe, the U.S. and Asia, with sales of approximately of $137 million and employs about 120 people worldwide.
Aquafil said it plans to focus on the fiber industry to strengthen its global leading position as a "sustainable" manufacturer. The company makes Econyl fiber.
CEO Giulio Bonazzi said the group intends to use the proceeds for the development of the BCF yarns for textile floorings business in the North American and Asia Pacific , high-growth markets.