Performance Fibers completes sale of Asia operations

Company renamed DFT DuraFiber Technologies Inc.

Industrial polyester fiber and fabric manufacturer Performance Fibers has completed the sale of its Asia operations to Indorama Ventures PCL, and has changed its name to DFT DuraFiber Technologies Inc. Frank Papa serves as chief executive officer (CEO) of the company.

Performance Fibers has succeeded in a major business transformation effort that has included footprint rationalization in North America, modernization of equipment in both North America and Europe, step-change improvements in product quality, and the sale of its Asia operations. Changing the name of the company is the culmination of more than a year of transformation.

Source: DuraFiber Technologies