COLONIAL HEIGHTS, Va. (Aug. 19)—Performance Fibers Holdings Inc. has acquired the North American business of Diolen Industrial Fibers Inc., which includes a high-tenacity polyester yarn production capacity and a fabric-converting plant.
Performance Fibers, formerly the industrial yarns and fibers unit of Honeywell International, said the acquisition is as key element in its global growth strategy. The terms of the deal weren't given.
Diolen´s North American business is headquartered in Scottsboro, Ala. where the company has produced high-tenacity polyester yarns since the early 1970s. It also maintains a fabric-converting plant in Winfield, Ala.
Performance Fibers has polyester yarn plants in Moncure, N.C., and Longlaville, France, along with joint ventures in Kaiping, China, and Seoul, South Korea.