SEAFORD, Del. – Uncertainty lingers as to the fate of the Seaford Nylon Plant following INVISTA’S announcement it is looking at options to sell a portion of its business.
According to the company, INVISTA is exploring strategic alternatives for its Apparel & Advanced Textiles business, a global producer and marketer of premium fibers and fabrics. Alternatives include potentially selling, or retaining and further investing in the business within INVISTA.
How a potential sale would impact the plant in Seaford which, as off 2014, employed roughly 100 people, is unclear. WBOC reached out to INVISTA but the company has yet to respond.
In the late 1930’s, DuPont invested $8.5 million dollars and built the plant. It was the first nylon plant built in America. At its height in the 60’s & 70’s, DuPont’s plant employed roughly 4,500 workers.
The plant changed the landscape and the trajectory of what was, at the time, just another rural Delaware town focused on farming.
In 2004, INVISTA took over the plant. The company is known for consumer brands such as LYCRA and COOLMAX fiber.
INVISTA CEO Jeff Gentry said it is important the company continuously compare “the external value of our assets against our internal value to make sure that the asset is owned by the company that values it most highly.”
At this time, Gentry would not disclose the state of INVISTA’s exploration process, stating “We are simply considering all available options.”
Details about the business and exploration process are confidential. INVISTA has retained Goldman, Sachs & Co. to assist the company in exploring strategic alternatives.
