Invista sale is finalized

By Staff -- Home Textiles Today, 5/3/2004 12:00:00 AM

WICHITA, KAN., WILMINGTON, DEL. — DuPont and subsidiaries of Koch Industries, Inc. last week finalized the sale of Invista, formerly DuPont Textiles & Interiors, for $4.2 billion, including the assumption of debt and certain joint venture and equity interests covered under a non-binding letter of intent.

Going forward, the company will conduct business as Invista.

Jeff Walker, Invista's CEO, and the new leadership team will concentrate on specific plans for strengthening the various businesses within the Invista umbrella, stated the companies.

Previously, presidents were announced for the six businesses: Alan Wolk, Interiors; Gerold Linzbach, Textile Fibers; William Ghitis, Apparel; David Trerotola, Performance Fibers; Ken Wall, Intermediates; and Kevin Fogarty, Polymer and Resins. Wolk will be based near Atlanta; Linzbach will be in Charlotte, N.C.; Ghitis and Trerotola will locate near Wilmington, Del.; and Wall and Fogarty will be in Wichita.