Aquafil Acquires O'Mara Incorporated

Aquafil S.p.A. has acquired O’Mara Incorporated for a total consideration equal to USD 40.5 million. The deal was completed through the Group’s U.S. subsidiary, Aquafil USA Inc. O’Mara Incorporated, founded in 1970, produces nylon, polypropylene and polyester fibers mainly in solution-dyed colors in its plant based in Rutherford College, N.C. In...

Aquafil S.p.A. has acquired O’Mara Incorporated for a total consideration equal to USD 40.5 million. The deal was completed through the Group’s U.S. subsidiary, Aquafil USA Inc.

O’Mara Incorporated, founded in 1970, produces nylon, polypropylene and polyester fibers mainly in solution-dyed colors in its plant based in Rutherford College, N.C. In 2018, O’Mara reported a turnover of USD 40.1 million, with margins in line with those of Aquafil Group.

O’Mara’s identity and market positioning are consistent with those of Aquafil Group. The compatibility accelerates the globalization process of the textiles business, with positive consequences for ECONYL® and Dryarn® products as well. O’Mara will provide access to a broader product range, thereby driving further development of the U.S. market in the sectors of athletic apparel, hosiery, fashion and accessories.

As a result of the production activity in the U.S., the group will also benefit from the trade agreements between the U.S. federal government and certain Central and South American countries (CAFTA), which allow for exemptions from U.S. tariffs on apparel produced in the latter countries using yarns of U.S. origin.

Founded in 1965, Aquafil is one of the main producers of nylon in Italy and worldwide. The group is present in eight countries on three different continents, with over 2,800 employees at 16 production sites located in Italy, Germany, Scotland, Slovenia, Croatia, Unites States, Thailand and China.

Source: specialtyfabricsreview.com