KoSa Announces Shareholder Acquisition

KoSa Announces Shareholder Acquisition

HOUSTON, Sept. 24 / PRNewswire / — KoSa, a leader in the polyester business since its formation in 1998, announced today that the 50 percent ownership position in the company held by IMASAB S.A. de C.V. would be acquired by the company's other 50 percent owners, Koch International Equity Investments BV and Koch Equities, Inc., both of which are subsidiaries of Wichita, Kansas- based Koch Industries, Inc.

“KoSa's mission is unchanged, that is, to be the leader in the polyester industry,” said George Gregory, the company's chief executive officer.

“We are excited about the prospects of this transition and look forward to continued strong and close working relationships with our many customers,” said Bill Caffey, KoSa's chairman of the board.

KoSa manufactures commodity and specialty polyester products as part of four global businesses: Packaging Resins, Technical Fibers, Textile Fibers and Intermediates and Polymer.

KoSa's global headquarters is located in Houston, Texas, with regional offices in Charlotte, North Carolina, Frankfurt, Germany and Toluca, Mexico. The stock sale is subject to multi-national regulatory approval. Details of the transaction will be addressed and a closing is expected in the next two months.

Press Release

SOURCE: KoSa

Web site: http://www.kosa.com