logo

Sign me up!

FREE MEMBERSHIP

Get your FREE Innovation in Textiles membership. Sign up now...

4th June 2019, Arco

Aquafil acquires O’Mara for US40.5 million

Aquafil is a pioneer in the circular economy with its Econyl regeneration system. © Aquafil Aquafil, a leading Italy-based specialist in the production of Polyamide 6 (nylon 6), has finalised the acquisition of 100% of O’Mara for a total of US$ 40.5 million. The deal was completed through the Group’s US subsidiary, Aquafil USA.

O’Mara, founded in 1970, produces nylon, polypropylene and polyester fibres mainly in solution-dyed colours in its plant based in Rutherford College, NC. In 2018, O’Mara reported a turnover of $US 40.1 million, with margins in line with those of Aquafil Group.

“O’Mara's identity and market positioning are fully consistent with those of Aquafil Group,” the company reports. “This compatibility accelerates the globalisation process of the textiles business, with positive consequences for Econyl and Dryarn products as well.” O’Mara will provide access to a broader product range, thereby driving further development of the US market in the sectors of athletic apparel, hosiery, fashion and accessories.

As a result of the production activity in the USA, the Group will also benefit from the trade agreements between the US federal government and certain Central and South American countries (CAFTA), which allow for exemptions from US tariffs on apparel produced in the latter countries using yarns of US origin.

Aquafil is a pioneer in the circular economy with its Econyl regeneration system, an innovative and sustainable process able to create new products from waste and give life to an endless cycle. The nylon waste is collected in locations all over the world and includes industrial waste but also products – such as fishing nets and rugs – that have reached the end of their useful life.

Such waste is processed to obtain a raw material – caprolactam – with the same chemical and performance characteristics as those from fossil sources. The polymers produced from Econyl caprolactam are distributed to the Group’s production plants, where they are transformed into yarn for carpet flooring and clothing.

Founded in 1965, Aquafil is present in eight countries and in three different continents, with over 2,800 employees at 16 production sites located in Italy, Germany, Scotland, Slovenia, Croatia, US, Thailand and China.

www.aquafil.com

This article is also appears in...

Comments

Be the first to comment on Aquafil acquires O’Mara for US40.5 million

|