Performance Fibers Continues Ambitious Expansion with Diolen NA Acquisition

摘要

In a definitive affirmation of its pledge to aggressively seek growth opportunities, Performance Fibers Inc., the Colonial Heights, Virginia-headquartered global producer of high tenacity polyester and other man-made industrial fibers, acquired the North American business of Diolen Industrial Fibers Inc. The addition of Diolen's North American operations, located in Alabama, continues an ambitious year for Performance Fibers, especially in the wake of its own divestiture in December, when the company was sold by Honeywell International to investment firm Sun Capital Partners. In late April, Performance Fibers, whose main market segments include production of advanced fibers for tire reinforcement, announced it was building a second polyester fiber and fabric plant in Kaiping, China to keep up with growing automotive demand in the region.