Shandong Ruyi Investment Company is to acquire an advanced textiles business based in L'Derry.

The firm said it is aiming to invest in Invista, which has a plant in Maydown Works.

Sinn Féin MP Elisha McCallion has said staff should be kept informed about the details of the sale.

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She said: "The initial indications, however, are positive as Shandong Ruyi have said they intend to invest in Invista.

"This will hopefully ensure the future of the plant and its workforce in Derry in the years to come.

"It is important that staff and their representatives are kept informed about any developments in the sale process in the time ahead.

"I look forward to the continued growth and expansion of Invista in the north west."