WAYNESBORO - The Waynesboro Invista plant will be seeing new owners as of next year.
According to a release, Invista has entered into a definitive agreement with Shandong Ruyi Investment Holding to sell Invista's Apparel & Advanced Textiles (A&AT) business, one of Invista's four major business units.
Shandong Ruyi Investment Holding is one of the largest textile manufacturers in China and ranks number one out of the top 500 textile and apparel companies in China, a release said. The company operates 13 domestic industrial parks and serves a global customer base over six continents.
The agreement is expected by mid-2018 and the purchase price is undisclosed, the release said.
The Apparel & Advanced Textiles business is a global producer and marketer of fibers and fabrics - including Lycra and Coolmax fiber. Fibers produced by Invista can be used in diapers, swimwear, activewear, intimate apparel and many other types of clothing.
The Waynesboro plant specializes in Lycra and is also a research and development facility that supports fiber innovations and new technologies. The Waynesboro plant employees 400 people.