Italian nylon yarn producer Aquafil SpA is strengthening its position in the US with the acquisition of O’Mara Incorporated for US$40.5m.
The deal was completed through the Group’s US subsidiary, Aquafil USA Inc.
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O’Mara Incorporated was founded in 1970 and produces nylon, polypropylene and polyester fibres mainly in solution-dyed colours in its plant based in Rutherford College, North Carolina. In 2018, O’Mara reported a turnover of US$40.1m.
Aquafil says the compatibility of the two businesses accelerates the globalisation of its textiles business, especially its Econyl product made from nylon waste such as abandoned fishing nets.
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.
Production activity in the US also means the group is positioned to benefit from the trade agreements between the US and certain Central and South American countries (DR-CAFTA), which allow for exemptions from US tariffs on apparel produced in these countries using yarns of US origin.
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By GlobalDataFounded in 1965, Aquafil is one of the main producers of nylon in Italy and worldwide. The group is present in eight countries and in three different continents, with more than 2,800 employees at 16 production sites located in Italy, Germany, Scotland, Slovenia, Croatia, United States, Thailand and China.
