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Invista, headquartered in Wichita, Kansas, United States, is the world's largest integrated fiber, resin and intermediates company. It has about 10,000 employees in over 20 countries worldwide.[1] DuPont originally formed the company as a subsidiary in 2003 from its textile fibers division and named it DuPont Textiles and Interiors while a permanent identity was established.[2] The company was given the trademarked name INVISTA and was then sold to privately owned Koch Industries in April 2004.[3] Koch Industries combined the newly acquired organization with their KoSa subsidiary to complete the INVISTA company.[4]

INVISTA
IndustrySpandex, Resin, Chemical, Polymer
Founded2003; 15 years ago (2003) (as DuPont Textiles and Interiors)
HeadquartersWichita, Kansas, U.S.
Number of employees
10,000
ParentKoch Industries
Websitewww.invista.com

OperationsEdit

INVISTA's products include many brands.

In 2008, Invista sued Rhodia, a chemical company, for theft and misappropriation of a chemical process technology used to produce nylon 6,6.[5]

In February 2009, INVISTA announced a refinancing and capitalization plan that had reduced its debt by $1.6 billion since the previous June.[6] In the same year, Invista was the launch sponsor for WWDChina Week in Review, a weekly fashion publication.[7] Also in 2009, INVISTA agreed to pay a $1.7 million civil penalty and spend up to $500 million to correct self-reported environmental violations at its facilities in seven states.[8][9] Prior to the settlement, the company had disclosed to the EPA more than 680 violations after auditing 12 facilities acquired from DuPont in 2004.[10][11] In June 2012, DuPont & INVISTA agreed to an out of court settlement to resolve indemnification issues related to these environmental issues [12]

ReferencesEdit

  1. ^ Carroll, Jeremy. "Invista and Ingenza team up for bio-derived chemicals". Plastics News.
  2. ^ "DuPont Announces Board of Directors for DuPont Textiles & Interiors" (Press release). dupont.com. May 1, 2003. Retrieved 2011-02-24.
  3. ^ "DuPont and Koch Subsidiaries Agree On Sale of INVISTA Fibers Unit" (Press release). dupont.com. November 17, 2003. Retrieved 2011-02-24.
  4. ^ "Koch Subsidiaries Buy Fibers Unit from DuPont" (Press release). invista.com. April 30, 2004. Archived from the original on May 24, 2011. Retrieved 2011-02-24.
  5. ^ "US: Invista files lawsuit over nylon trade secrets". Just-Style. Nov 14, 2008.
  6. ^ Moon, Chris (Feb 10, 2009). "Wichita-based Invista reduces debt, adds capital". Wichita Business Journal.
  7. ^ "WWD Debuts WWDChina Week In Review". Business Wire. Mar 12, 2009.
  8. ^ "United States Announces Largest Settlement Under Environmental Protection Agency's Audit Policy" (Press release). U.S. Department of Justice. 9 April 2009. Retrieved 2010-05-31.
  9. ^ "United States Announces Largest Settlement Under Environmental Protection Agency's Audit Policy" (Press release). U.S. Environmental Protection Agency. 13 April 2009. Retrieved 2010-05-31.
  10. ^ Levi Wolters (13 April 2009). "Invista to correct EPA violations". Wichita Business Journal.
  11. ^ "Invista, Agencies File Agreement" (Press release). Invista. 13 April 2009. Retrieved 2010-05-31.
  12. ^ "Invista and DuPont (DD) Settle Litigation in NY District Court".

External linksEdit