English Firm Invests $66 Million in Aquafil

Cartersville, GA, Sept. 17, 2009--Fiber maker Aquafil has secured a $66 million investment from English firm Hutton Collins.

The investment will help Aquafil expand in the Asian market and aid in development of its environmental sustainability project called Econyl.

Aquafil said that funds managed by Hutton Collins Parnters will likely take a significant minority stake in the company through preferred stock.

Aquafil produces nylon 6 fiber for flooring and says it has a 34% marketshare in Europe. It has 2008 sales of $560 million.

"In particular, we will accelerate investments in the field of sustainability with the Econyl project and in China, where the construction of a new plant will soon be completed," says Aquafil CEO Giulio Bonazzi.

"Recycled products and the development of Asian markets are the most important strategic projects for Aquafil in the near future."