Newsline-International | March 2019
Shangdong Ruyi acquires Invista’s textile biz
Shandong Ruyi Investment Holding, a textile and apparel company in China, has completed acquisition of Invista’s apparel and advanced textiles business. The transaction includes all associated assets and contracts. The new company will operate as The
Lycra Company, an independent subsidiary, will continue to manufacture advanced fibre and technology solutions.
The Lycra Company will start day one as a fully operational subsidiary of Ruyi Group, with significant operations in various countries, UK and the Netherlands will be among them. The transaction also includes eight manufacturing facilities, four research and development labs,
17 offices located in 14 countries around the world, and approximately 3,000 employees. Current leadership and employees will continue in their roles with the new company, said
a press release by Lycra.
“We are fortunate to be purchased by Ruyi, a company that shares our vision and our commitment to delivering high-quality products, technical expertise, and unmatched marketing support
to our valued customers,” said Dave Trerotola, chief executive officer, The Lycra Company. “With the continued investment of Ruyi, we look forward to working with our customers
to bring exciting innovations to market. Our new shareholder’s textile and retail experience will be
a tremendous asset as we develop differentiated fibres that deliver
the lasting performance benefits consumers have come to know and expect from our brands.”