Invista

Last updated
INVISTA
Company type Subsidiary
Industry Spandex, Resin, Chemical, Polymer
Founded
  • February 2003;21 years ago (2003-02) (as DuPont Textiles and Interiors)
  • April 30, 2004 (2004-04-30) (as INVISTA)
Headquarters,
United States
Number of employees
10,000
Parent Koch Industries
Website www.invista.com OOjs UI icon edit-ltr-progressive.svg

Invista (stylized as INVISTA) is a fiber, resin, and intermediates company headquartered in Wichita, Kansas, United States. 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]

Contents

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. It was said to have cost more than $2 billion. [13] Koch Industries still retains a minority stake in The Lycra Company. [14]

Related Research Articles

<span class="mw-page-title-main">Kevlar</span> Heat-resistant and strong aromatic polyamide fiber

Kevlar (para-aramid) is a strong, heat-resistant synthetic fiber, related to other aramids such as Nomex and Technora. Developed by Stephanie Kwolek at DuPont in 1965, the high-strength material was first used commercially in the early 1970s as a replacement for steel in racing tires. It is typically spun into ropes or fabric sheets that can be used as such, or as an ingredient in composite material components.

<span class="mw-page-title-main">Nylon</span> Early synthetic polymer developed as a textile fibre

Nylon is a family of synthetic polymers with amide backbones, usually linking aliphatic or semi-aromatic groups.

<span class="mw-page-title-main">Spandex</span> Synthetic fibre known for its elasticity

Spandex, Lycra, or elastane is a synthetic fiber known for its exceptional elasticity. It is a polyether-polyurea copolymer that was invented in 1958 by chemist Joseph Shivers at DuPont.

Koch, Inc. is an American multinational conglomerate corporation based in Wichita, Kansas, and is the second-largest privately held company in the United States, after Cargill. Its subsidiaries are involved in the manufacturing, refining, and distribution of petroleum, chemicals, energy, fiber, intermediates and polymers, minerals, fertilizer, pulp and paper, chemical technology equipment, cloud computing, finance, raw materials trading, and investments. Koch owns Flint Hills Resources, Georgia-Pacific, Guardian Industries, Infor, Invista, KBX, Koch Ag & Energy Solutions, Koch Engineered Solutions, Koch Investments Group, Koch Minerals & Trading, and Molex. The firm employs 122,000 people in 60 countries, with about half of its business in the United States.

Twaron is a para-aramid, high-performance yarn. It is a heat-resistant fibre, helps in ballistic protection and cut protection. Twaron was developed in the early 1970s by the Dutch company Akzo Nobel's division Enka BV, later Akzo Industrial Fibers. The research name of the para-aramid fibre was originally Fiber X, but it was soon called Arenka. Although the Dutch para-aramid fiber was developed only a little later than DuPont's Kevlar, the introduction of Twaron as a commercial product came much later than Kevlar due to financial problems at the Akzo company in the 1970s. As of 2000, Twaron had become a global material and had been integrated into the global markets. Twaron has been around for over 30 years.

Owens Corning is an American company that develops and produces insulation, roofing, and fiberglass composites and related materials and products. It is the world's largest manufacturer of fiberglass composites. It was formed in 1935 as a partnership between two major American glassworks, Corning Glass Works and Owens-Illinois. The company employs approximately 19,000 people around the world. Owens Corning has been a Fortune 500 company every year since the list was created in 1955. The Pink Panther acts as the company's mascot and appears in most of their advertisements.

<span class="mw-page-title-main">Stephanie Kwolek</span> Polish-American chemist who invented Kevlar (1923–2014)

Stephanie Louise Kwolek was a Polish-American chemist best known for inventing Kevlar. Her career at the DuPont company spanned more than 40 years. She discovered the first of a family of synthetic fibers of exceptional strength and stiffness: poly-paraphenylene terephthalamide.

du Pont family Wealthy American family

The du Pont family or Du Pont family is a prominent American family descended from Pierre Samuel du Pont de Nemours (1739–1817). It has been one of the richest families in the United States since the mid-19th century, when it founded its fortune in the gunpowder business. In the late 19th and early 20th centuries, it expanded its wealth through the chemical industry and the automotive industry, with substantial interests in the DuPont company, General Motors, and various other corporations.

Coolmax is the brand name for a series of polyester fabrics developed and marketed by The Lycra Company.

<span class="mw-page-title-main">Acrylic fiber</span> Synthetic fiber made from polymer

Acrylic fibers are synthetic fibers made from a polymer (polyacrylonitrile) with an average molecular weight of ~100,000, about 1900 monomer units. For a fiber to be called "acrylic" in the US, the polymer must contain at least 85% acrylonitrile monomer. Typical comonomers are vinyl acetate or methyl acrylate. DuPont created the first acrylic fibers in 1941 and trademarked them under the name Orlon. It was first developed in the mid-1940s but was not produced in large quantities until the 1950s. Strong and warm, acrylic fiber is often used for sweaters and tracksuits and as linings for boots and gloves, as well as in furnishing fabrics and carpets. It is manufactured as a filament, then cut into short staple lengths similar to wool hairs, and spun into yarn.

<span class="mw-page-title-main">Cordura</span> Brand of high-performance fabrics developed by DuPont and now owned by Invista

Cordura is a brand of synthetic fiber-based fabrics used in products such as: luggage, backpacks, trousers, military wear, and performance apparel.

<span class="mw-page-title-main">Joseph Shivers</span>

Joseph Clois Shivers Jr. was an American textile chemist who was based in West Chester, Pennsylvania, best known for his role in the structural development of Spandex, a thermoplastic elastomer, in the 1950s, while employed at DuPont.

<span class="mw-page-title-main">DuPont Experimental Station</span> Research and development facility of DuPont

The DuPont Experimental Station is the largest research and development facility of DuPont, located on the banks of the Brandywine Creek in Wilmington, Delaware

<span class="mw-page-title-main">Sorona</span>

Sorona is DuPont de Nemours, Inc.'s brand of Triexta, a subclass of polytrimethylene terephthalate (PTT) named and commercialized in 2000. The fibers are soft and stain-resistant while exhibiting high strength and stiffness.

The Chemours Company is an American chemical company that was founded in July 2015 as a spin-off from DuPont. It has its corporate headquarters in Wilmington, Delaware, United States. Chemours is the manufacturer of Teflon, the brand name of polytetrafluoroethylene (PTFE), known for its anti-stick properties. It also produces titanium dioxide and refrigerant gases.It is currently being sued by the PA Attorney General, for knowingly exposing the public to PFAS..

DuPont de Nemours, Inc., commonly shortened to DuPont, is an American multinational chemical company first formed in 1802 by French-American chemist and industrialist Éleuthère Irénée du Pont de Nemours. The company played a major role in the development of the U.S. state of Delaware and first arose as a major supplier of gunpowder. DuPont developed many polymers such as Vespel, neoprene, nylon, Corian, Teflon, Mylar, Kapton, Kevlar, Zemdrain, M5 fiber, Nomex, Tyvek, Sorona, Corfam and Lycra in the 20th century, and its scientists developed many chemicals, most notably Freon (chlorofluorocarbons), for the refrigerant industry. It also developed synthetic pigments and paints including ChromaFlair.

Shandong Ruyi Technology Group Co., Ltd is a Chinese textiles and clothing company. Founded in 1972 in Jining, China, it is a subsidiary of Jining Ruyi Investment Co., Ltd. As of 2017, Ruyi Group was the largest textile manufacturer in China. It owns or part-owns brands including Aquascutum, and Renown Inc. and has expressed ambitions to become the Chinese equivalent of LVMH.

<span class="mw-page-title-main">Robert Bilott</span> American attorney (born 1965)

Robert Bilott is an American environmental attorney from Cincinnati, Ohio. Bilott is known for the lawsuits against DuPont on behalf of plaintiffs injured by chemical waste dumped in rural communities in West Virginia. Bilott has spent more than twenty years litigating hazardous dumping of the chemicals perfluorooctanoic acid (PFOA) and perfluorooctanesulfonic acid (PFOS). They were unregulated as industry had never publicly identified them as having known hazardous effects, despite internal studies showing these results.

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. 1 2 "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. Archived from the original on May 5, 2019. Retrieved October 8, 2013.
  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. Archived from the original on 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)