Aquafil and Carvico in XLA fibre JV

8 December 2011, Italy

Aquafil, a leading producer of Nylon 6 yarns and Carvico a leading manufacturer of warp-knitted stretch fabrics, have formed a joint venture company XLAnce Fibre Italia which will manufacture and market the XLA polyolefin stretch fibre.

XLAnce Fibre Italia has completed a transaction with The Dow Chemical Company and its affiliates (Dow) to purchase the trademarks associated with XLA polyolefin based stretch fibre and to acquire an exclusive license under the related intellectual property for cross linked polyolefin based stretch fibre for knitted and woven textiles.

The transaction also includes the acquisition of Dow's XLA fibre production lines, machinery and equipment based in Dow's Tarragona (Spain) site, which XLAnce Fibre Italia will transfer to Italy in the coming weeks. Production is scheduled to commence in the third quarter of 2012.

The new joint venture, which is owned 50%/50% by the two companies, is said to be a strategic move for both Carvico and Aquafil as it will allow the re-launch of XLA, an innovative fibre with important growth potential. Aquafil's strong knowhow within the polyamide fibres segment, together with Carvico's experience within the elastic fabrics field, are said to be the ideal mix of skills to best sustain XLAnce Fibre Italia's growth and positioning on the market, through a strategy consistent with the fibre and textile/clothing sector evolution.  

"Innovation is part of Carvico's identity" said Laura Colnaghi Calissoni, Chairman of Carvico "and true innovation in the stretch fabric sector commands a coordinated efforts along the supply chain, as new fibres are a compulsory component of any genuinely new fabric solution."  

"As a leading stretch fabric company our interest into the possibility to resume XLA production was natural, since XLA has been one of the very few significant new fibres in our business in recent years, and our partnership with Aquafil, whose fibre technology knowledge is a key requirement, made this project possible."

"We believe that our customers will appreciate our decision, and we will work to ensure that the new company, which will have the full freedom to operate independently on the market, can offer innovative solutions in many applications where the use of fibre XLA can add value." Giulio Bonazzi, Aquafil Group Chairman said:  

"We were impressed by the quality and the amount of R&D work that has been done on this fibre, and we are grateful to Dow for the professionalism and all the information that was made available."

"Aquafil's consolidated knowledge within the polyamide fibres segment, in particular with the innovative Econyl recycled yarn, and within the microfiber and polypropylene segment with the Dryarn hi-tech fibre, will be essential to revive this promising elastomer with undoubted synergies. The transfer of the production to Italy will also bring the added value of the closeness to what is still renowned as the Textile innovation and creativity world center, both for fashion and sportswear brands"

Aquafil is an Italian company with headquarters in Arco di Trento (Italy), with 2,000 employees working in 13 factories in Italy, Slovenia, Croatia, the United States, China, and Thailand. Carvico located in Carvico (Italy), employs 300 people and its production has always been 100% Made in Italy. The company specializes in the production and dying of warp knit fabrics for swimwear, sportswear and underwear and operates both on the Italian and the international markets.