Invista

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INVISTA
Industry Spandex, Resin, Chemical, Polymer
Founded 2003; 15 years ago (2003) (as DuPont Textiles and Interiors)
Headquarters Wichita, Kansas, U.S.
Number of employees
10,000
Parent Koch Industries
Website www.invista.com

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]

Operations[edit]

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]

References[edit]

  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 links[edit]