India, Feb. 9 -- Shandong Ruyi Investment Holding, a textile and apparel company in China, has completed acquisition of Invista's apparel and advanced textiles business. The transaction includes all associated assets and contracts. The new company will operate as The Lycra Company, an independent subsidiary, will continue to manufacture advanced fibre and technology solutions.
The Lycra Company will start day one as a fully operational subsidiary of Ruyi Group, with significant operations in various countries, UK and the Netherlands will be among them. The transaction also includes eight manufacturing facilities, four research and development labs, 17 offices located in 14 countries around the world, and approximately 3,000 employees. Curr...