Nilit

Nilit Group will invest tens of millions of dollars in a joint venture with Shenma Group to build a new nylon yarn production facility in Pingdingshan, Henan Province, China. The plant will produce textiles for the automotive industry with a capacity of 20,000 tons.

NILIT announced a new joint venture with Shenma Industry Co., Ltd. to build a greenfield production site in Pingdingshan, China, for premium nylon 6.6 yarns. The facility is expected to yield a production capacity of 20,000 tons in the next few years.

Celanese signed a definitive agreement to acquire Nilit Plastics, the nylon compounding division of Nilit, including its product portfolio, customer agreements, and manufacturing facilities. Financial details were not disclosed.