Invista, a subsidiary of Koch Industries, has sold its PET polymer and resins manufacturing plants in Spartanburg, S.C., and in Queretaro, Mexico, to Thailand-based Indorama Ventures Public Co.
The value of the sale is $420 million, minus assumed liabilities.
The two plants produce polyester and resins for use in bottles for soft drinks and water, custom containers and more. About 1,000 are employed at the two sites.
This does not affect the remainder of Invista's polymer and resins business, which is based in Wilmington, N.C. and in Germany.