NYLSTAR CLOSES AMFIBE DEAL
NEW YORK — Nylon producer Nylstar Inc. said it closed on its acquisition of Ridgeway, Va.-based Amfibe Tuesday. Terms were not disclosed.
The deal gives Nylstar, an Italian company with U.S. headquarters in Greensboro, N.C., its first manufacturing operations in North America.
Nylstar, which produces Meryl-brand nylon, is a joint venture of European chemical companies Rhodia and Snia.
Amfibe, a producer of nylon 6,6, currently employs 160 people and has an annual capacity of 2,000 metric tons of filament, Nylstar chief operating officer Giovanni Sartor said in a Monday interview. He added that Nylstar expects to modernize Amfibe’s plant, upping capacity tenfold and adding about 50 employees.
Sartor said the Amfibe plant will primarily serve North American customers, though he added, “Nothing prevents us from exporting.”
According to Sartor, Larry McDorman and Kendall Martin, who currently run Amfibe and hold ownership positions in the company, will continue on as general manager and technical manager of the plant. Their current titles are president and vice president of manufacturing, respectively.
McDorman and Martin could not be reached for comment.