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Aquafil signs agreement with Invista

Arco, Trentino, Italy—Aquafil has signed an agreement with Invista, one of the world’s largest integrated producers of chemical intermediates, polymers and fibers, to acquire certain tangible and intangible assets related to Invista’s nylon 6 business activity in Asia Pacific. Closing is expected March 29.

The acquired assets concern Invista’s business of polyamide 6 BCF fiber in Asia Pacific with a turnover of about $50 million and, after business integration, with an expected margin in line with Aquafil Group’s consolidated EBITDA margin. The total appreciation of the deal is not relevant for the group and will be financed by its internal resources.

“This is a milestone for the further development of Aquafil in the Asia Pacific region,” said Giulio Bonazzi, president and CEO of the Group. “This deal will accelerate Aquafil’s investment program in the area of Asia Pacific that remains the region with highest potential in terms of demand growth for synthetic fibers.”

The transaction does not include Invista’s other businesses in Asia, such as its nylon 6,6, polyester, polyols and licensing businesses and related brands.

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Engineered Floors enters into asset purchase agreement for Beaulieu

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Dalton–Engineered Floors LLC has entered into an agreement with Beaulieu Group LLC to purchase substantially all of the operating assets of Beaulieu.

The companies had previously announced they had agreed to terms in a letter of intent. They have now concluded those negotiations and executed a definitive agreement.

Beaulieu, which is operating under Chapter 11 bankruptcy protection, will seek court approval of this transaction, which is now expected to close in early November. Engineered Floors plans to operate the assets going forward and continue to grow the residential and commercial businesses.

“This will be good for both our business and the community,” said Bob Shaw, chairman and CEO, Engineered Floors.