Invista says it might sell one of the businesses whose products are manufactured at its Wilmington facility.
The company has begun to value its North American polyester polymer and resins business for a potential sale, said Erica Taylor, Invista spokeswoman.
Invista also makes Terate polyols in Wilmington, and that business is not being assessed for possible sale, she said.
The assessment of the polyester business is expected to take place over the next several months and could potentially result in a divestiture of one or more polyester sites, Taylor said. Polyester polymer and resins are also manufactured in Spartanburg, S.C., and Queretaro, Mexico.
Invista eliminated 50 jobs here earlier this year as it halted production of some polyester intermediates.
The products could be purchased more economically than manufactured, Bill King, Invista Wilmington site manager, said at the time. King is also chairman of the board of Wilmington Industrial Development.
We are just at the beginning of this process and don't yet know what, if any, transactions will ultimately occur, Taylor said. If it is determined that other parties do not value the North American Polyester Polymer & Resins assets more than Invista does, we plan to continue operating and driving strategies for each site that maximize long-term value.
Invista says it employs 335 and more than 200 contract workers at its plant on U.S. 421 north of Wilmington. It is owned by privately held Koch Industries of Wichita, Kan.
The company has begun to value its North American polyester polymer and resins business for a potential sale, said Erica Taylor, Invista spokeswoman.
Invista also makes Terate polyols in Wilmington, and that business is not being assessed for possible sale, she said.
The assessment of the polyester business is expected to take place over the next several months and could potentially result in a divestiture of one or more polyester sites, Taylor said. Polyester polymer and resins are also manufactured in Spartanburg, S.C., and Queretaro, Mexico.
Invista eliminated 50 jobs here earlier this year as it halted production of some polyester intermediates.
The products could be purchased more economically than manufactured, Bill King, Invista Wilmington site manager, said at the time. King is also chairman of the board of Wilmington Industrial Development.
We are just at the beginning of this process and don't yet know what, if any, transactions will ultimately occur, Taylor said. If it is determined that other parties do not value the North American Polyester Polymer & Resins assets more than Invista does, we plan to continue operating and driving strategies for each site that maximize long-term value.
Invista says it employs 335 and more than 200 contract workers at its plant on U.S. 421 north of Wilmington. It is owned by privately held Koch Industries of Wichita, Kan.
