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Performance Fibers Buys INVISTA Tire Cord and Polyester Plants

Charlotte Business Journal

Performance Fibers Holdings Inc. has purchased the North America tire cord and polyester filament businesses of INVISTA, including manufacturing plants in Salisbury and Shelby. The two facilities have about 740 employees and financial terms weren't disclosed.

Richmond, Va.-based Performance Fibers' products are used in a range of applications, including sewing thread, tires, seat belts, sailcloth and ropes. It is a division of private investment firm Sun Capital Partners Inc.which has offices in Florida, California and New York as well as affiliates in the United Kingdom, Japan and China.

INVISTA, based in Kansas, is one of the world's largest integrated fiber and polymer businesses.

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