I have been out of the country for a week and was unable to forward News Updates during that time. Two interesting announcements were made while I was away:
1) We were anticipating an announcement from Invista re the Chattanooga plant and it was covered in the media the day after I left:
AKC Note: Chattanooga is one of Invista’s 3 North American plants producing Nylon 66 polymer. The other 2 plants are Camden, SC where there is integrated production through to BCF, and Kingston Canada where there is integrated production through to high tenacity yarns including airbag yarns. From a fiber integration aspect Chattanooga was only directly integrated to a relatively small capacity of Cordura Nylon 66 production. However the overall Chattanooga plant site is also shared with Kordsa with the largest N.American high tenacity nylon production for heavy denier yarns. Kordsa is partially supplied by raw materials from the adjacent Invista plant. The announcement as reported does not provide any information re Cordura production, but as the military has traditionally been quite a significant user we anticipate that it will stay in the US to comply with Berry Amendment requirements, but we have no official confirmation of this. In the article Kordsa is quoted as saying they intend to remain at the site.
2) Lydall announce the acquisition of Texel
AKC Note: Lydall continues to expand and diversify its activities. A publicly traded company that is best known for its nonwoven insulation and acoustic products used in the automotive and transportation sector. In February 2014 Lydall acquired the Industrial Filtration business of Andrew Industries, and this latest acquisition of the Canadian company Texel brings the addition of nonwoven needle punch materials for geosynthetic, liquid filtration, and other industrial segments. The Texel business will be included in Lydall’s Industrial Filtration operating segment which will be renamed Technical Nonwovens. The purchase is reported to be approximately $96 million.
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