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ChemicaInvest will today officially transfer its shares in Fibrant to the Highsun Holding Group Ltd. This is an important and memorable moment for all parties concerned. Bundling the strengths of the two companies in this way will create an international market leader in caprolactam and nylon. As market leader, Highsun will use all strategic opportunities to build on a global, stable nylon 6 value chain. ChemicaInvest, a joint venture of CVC Capital Partners and DSM, is the current owner of Fibrant.
The main points of the transaction are:
All 900 Fibrant employees transfer on acquisition date, with the exception of the employees of Fibrant LLC (USA) which is being wound down. Fibrant’s minority interest in Sitech, a technical service provider in Geleen (the Netherlands), is also included in the acquisition. The acquisition is an excellent fit with the ‘One World, One Team’ philosophy of the Highsun Group. Together with Fibrant, Highsun Group will build on a global nylon 6 value chain as a single team.
Pol Deturck, CEO of Fibrant, commented: ‘By joining a solid and responsible international player in the nylon world, we create continuity for our organization. It will enable Fibrant to also remain successful in the long term. This acquisition is an important moment for Fibrant and for our employees. The bundling of forces will also benefit our clients and suppliers.’
Chen Jianlong, CEO of Highsun Group, adds: ‘With this acquisition, we are realizing a new step in our ambition to build a global, stable nylon 6 value chain. Together with Fibrant, we form a leading company with balanced representation in growing, emerging markets and in solid, developed markets. There are also technical and operational synergies. Fibrant’s good reputation for product quality, global service and sustainable technology is very important for the Highsun Group.’