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CORRECTING and REPLACING NILIT® Completes Sales of Nylon Compounding Division

Wed, May 3 2017

Nilit strengthens focus on global nylon fibers and polymer footprint

AMSTERDAM--(BUSINESS WIRE)-- First paragraph, first sentence of release (dated May 3, 2017) should read: Nilit, an independent global producer of high performance nylon fibers and polymers, with locations in Amsterdam, Migdal Haemek, Rho, Martinsville, Suzhou and Sao Paolo, today announced it has successfully completed the sale of its Nylon Compounding Division to Celanese Corporation (NYSE: CE), a global specialty materials company (instead of: Nilit, an independent global producer of high performance nylon fibers and polymers, today announced it has successfully completed the sale of its Nylon Compounding Division to Celanese Corporation (NYSE: CE), a global specialty materials company).

The corrected release reads:

NILIT® COMPLETES SALES OF NYLON COMPOUNDING DIVISION

Nilit, an independent global producer of high performance nylon fibers and polymers, with locations in Amsterdam, Migdal Haemek, Rho, Martinsville, Suzhou and Sao Paolo, today announced it has successfully completed the sale of its Nylon Compounding Division to Celanese Corporation (NYSE: CE), a global specialty materials company.

The addition of Nilit’s Nylon Compounding Division provides Celanese with a leadership position as a global nylon solutions provider, building on the Division’s strong capabilities, excellent team, and consistent track record.

The sale will allow Nilit to strengthen further its focus on its growing nylon fibers and polymerization businesses worldwide, with facilities in Israel, the United States, China and Brazil. As an innovative global leader in high quality nylon fibers and polymers, Nilit plans to capture additional growth and performance opportunities in these segments while continuing to work closely with partners and customers and investing in the development of new solutions and applications.

Nilit’s global leadership in nylon fibers is based on distinctive capabilities: innovation, quality, service, and market reach across the entire value chain. Nilit’s yarns span a variety of applications, including high performance, fashion, and eco fibers, used across seamless knitting, hosiery, circular and warp knitting, and weaving. Nilit’s product line includes a broad variety of yarn counts, cross sections and several levels of luster in POY, flat, FDY and textured fibers.

Nilit polymers and resins are designed for compounding, injection and extrusion and include a variety of PA6.6 unfilled grades and recycled resins under the Polynil® brand. Nilit will continue to grow this business, working together with existing and new customers worldwide.

"We are very proud of the achievements of Nilit’s Nylon Compounding Division over the past years, and believe that together with Celanese these activities will be able to capture even greater opportunities for growth across applications,” said Ilan Melamed, Nilit Plastics Managing Director. “Nilit is excited about being able to focus all our attention and resources on continued innovation and growth in our fibers and polymer businesses, while providing distinctive performance and service to our partners and customers.”

About Nilit

Founded in 1969, Nilit (www.nilit.com) is an independent global producer of high performance nylon polymers, fibers and compounds with offices and production sites in Israel, the United States, Latin America, and China.

Nilit
Amy Holzer
amyh@nilit.com

Source: Nilit