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Testing and product development expertise to make your products to make your products perform. Hohenstein.US We live outdoor textiles. Visit Functional Fabric Fair booth 504. Hohenstein_TextileInsight_3rdV_201905.indd 1 5/2/2019 4:39:16 PM Hohenstein.US We live outdoor textiles. Visit Functional Fabric Fair booth 504. WITH THE INK BARELY DRY ON ITS acquisition deal, Milliken named Steve Layton as president of the Polartec business. Layton, most recently VP sales and marketing for Milliken's Westex flame resistant textiles business, now takes the helm of the Polartec brand from outgoing CEO Gary Smith. Layton, who joined Milliken in 2012, will head the integration process, bringing Polartec's global portfolio of fabric technologies for outdoor apparel — including performance- driven and consumer-focused textiles, and flame-resistant, workwear and mili- tary fabrics — into Milliken. According to Milliken management, Layton will be tasked with the ongoing management of the business, operational success in manufacturing, and furthering devel- opment of innovative textile solutions that benefit Polartec brand customers and end users. Polartec rounds out Milliken's com- prehensive portfolio, stated Halsey Cook, Milliken president and CEO. "The strategic acquisition broadens our textile capabilities with a product offering to now include fleece and soft- shell outerwear, among others, allowing us to grow in new and exciting spaces." Jeff Price, president of Milliken's Performance and Protective Textiles Division, added, "Polartec expands our regional manufacturing reach and grows our technological expertise, enabling us to further deliver innova- tive performance textiles to the global market." Milliken's purchase of Polartec was finalized in June. Terms of the deal were not disclosed. Polartec has been down this path before. Versa Capital Management acquired the assets of the former Malden Mills in 2007 through the then 101-year-old textile manufacturer's third reorganization. The business was transformed, renaming the company Polartec, revamping the company's leadership, operations, manufacturing footprint and customer relationships. An informal survey of textile execs revealed unanimous opinion that the acquisition of Polartec by Milliken is a positive move for both companies. Milliken was described as a world class, responsible company that rec- ognizes the value of the Polartec brand. The century-old Spartanburg, South Carolina company was viewed as run- ning a tight ship being solid financially, and in acquisition mode. One exec, expressed that the acquisition was "a little bittersweet." He and others are hopeful that this latest acquisition of the influential outdoor brand allows Polartec to retain its independent spirit and continue to innovate. However, these execs also predicted that shifts in Polartec management would not be unexpected, as the swift naming of Layton to the top spot, now serves as example. l AQUAFIL S.P.A., SUPPLIER OF ECONYL regenerated nylon, and a leading producer of nylon in Italy and worldwide, recently acquired U.S. textile producer O'Mara Incorporated, for $40.5 million in a deal completed through the Group's U.S. subsidiary, Aquafil USA Inc. Aquafil creates products from nylon waste collected globally that includes industrial waste in addition to fishing nets and rugs. The waste is processed to obtain a raw material, caprolactam, with characteristics same as those from fossil sources. Polymers from Econyl caprolactam are distributed to the Group's production plants, trans- formed into yarn for carpet flooring and clothing. O'Mara produces nylon, polypro- pylene and polyester fibers mainly in solution-dyed colors in its Rutherford College, NC plant. According to the companies, O'Mara will drive devel- opment of the U.S. market for Econyl product in athletic apparel, hosiery, fashion and accessories. l Aquafil Acquires O'Mara, Strengthens U.S. Position Milliken Exec Tapped for Top Polartec Post COMPANY NEWS Acquisition Deals Expand, Diversify Holdings July/August 2019 ~ Textile Insight • 13 textileinsight.com