DuPont textiles becomes Invista15 November 2003
DuPont Textiles & Interiors (DTI) have announced that they will be called Invista with immediate effect. The change represents the company's next step toward separating the subsidiary from the parent company and forming an independent corporate identity for Invista. The change will affect the leather sector, as it will include the Lycra and Teflon brands. DuPont have established licences with leading tanners throughout the world to sell leather with Lycra and Teflon. 'Invista will start life as the world's largest integrated fibres and intermediates company with more than $6.3 billion in revenue, 18,000 employees and a presence in 86 countries', says Steve McCracken, president of Invista (formerly DTI). DuPont announced in February 2002 plans to create Invista and on August 11, 2003 announced exclusive negotiations with subsidiaries of Koch Industries Inc of the US regarding the possible sale of Invista.