Koch Industries Inc has completed the takeover of polyester fibre maker KoSa provisionally announced on 25 September.

Koch Industries, previously a 50 per cent shareholder in the KoSa business, has become the sole owner of the company after purchasing the 50 per cent stake held by the company's partner in the venture, IMASAB SA de CV.

"KoSa will remain a separately managed company and will be completely independent of Koch Industries Inc," said Bill Caffey, KoSa's chairman of the board of directors.

The purchase was completed following approval by all appropriate domestic and international regulatory and trade authorities.

"The acquisition will have a positive effect on KoSa," said George Gregory, KoSa's chief executive officer. "Having one owner provides KoSa with more accountability and a faster decision-making process which will allow the company to better serve its customers and respond to the marketplace."

KoSa's global headquarters will remain in Houston, Texas, and its regional headquarters will stay in Charlotte, NC; Frankfurt, Germany; and Mexico.

The company employs approximately 8,000 people worldwide.