Wilmington, Delaware — Invista has confirmed that its sale of its engineering polymer solutions business to Italy's Radici Group will not have any effect on its speciality polyols businesses.
Invista uses waste streams from its polyamide business as the basis for a number of its polyol grades.
Bergamo, Italy-based Radici has signed a letter of intent to acquire the business, officials said. No purchase price was disclosed for the deal, which is expected to close in 60 days.
The move will significantly increase Radici's production capacity, with the addition of Invista's plants in Chattanooga, Tennessee, US, and Born, in the Netherlands. The Chattanooga plant will be closed, with production moving to existing Radici sites in North America.
Nadine De Vries, Invista's vice president, new business development said: "the sale is only of our Engineering Polymers Solutions business, which is a very limited portion of Invista's polyamide business, and does not affect our Terate polyol business.
