Hoechst forms Trevira from its fibers, film units

Abstract

German chemicals giant has pulled together all its fibers and fiber affiliates units into a new business. Effective Aug. 21, the new business is known as Trevira, adopting the company's long-standing trademark for polyester fibers as a snappier name than Fibers Worldwide. Trevira combines Hoechst's polyester and cellulose acetate fibers, resins, films, and intermediates operations, according to William B. Harris, president of Trevira. From being a German company doing business internationally, Hoechst is now an international company that happens to be headquartered in Germany, according to Harris. It is evolving into a strategic management holding company with independent global divisions and subsidiaries. Hence, the formation of Trevira last month as a business unit with worldwide responsibility for the management of these operations, although not a separate legal entity. It is headquartered in New York City. With sales of $6.6 billion in 1995, the businesses make up one of the largest ...