Invista Affiliate to Acquire Assets of European Ya

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Invista Affiliate to Acquire Assets of European Ya
Atlanta, GA, August 21, 2006—Invista affiliate, Arteva Specialties GmbH, has agreed to acquire the yarn processing assets of Mitex, a leading yarn processing company in North-East Bavaria (Germany). “Invista is committed to the European flooring business,” said Alan Wolk, president, Invista Interiors. “We are constantly evaluating opportunities to grow our business and offer the best value proposition to our customers. “The integration of Mitex’s yarn processing capabilities will enable us to efficiently develop new finished yarn products and expand our portfolio of product offerings to customers,” added Russell Pike, vice president, Invista Interiors. Invista (and its predecessor companies) and Mitex have had a successful commercial relationship for the past 25 years. “Mitex has been important to the economy in Michelau since we started our yarn processing in 1969. By linking our knowledge and assets with Invista and Invista’s Antron carpet fibrr, we increase the competitiveness of our business and keep jobs here in Michelau,” said Franz Josef Angele, owner of Mitex Zwirnerei und Vertriebs GmbH. The closure of this deal is expected within 30 to 60 days, pending regulatory approvals.