ChemicaInvest officially transfers shares in Fibrant to the Highsun Holding Group Ltd.

30 october 2018|News

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:

  • Highsun Holding Group acquires Fibrant BV and 60% of the shares of Fibrant Co. Ltd. The remaining 40% of the shares in Fibrant Co. Ltd. will remain in the hands of the current shareholders in China. 
  • All caprolactam, ammonium sulphate and related intellectual property of Fibrant is included in the deal. 
  • Highsun Group has more than 5,000 employees, 3,000 business partners and an annual revenue in excess of €3 billion.
  • The selling party is ChemicaInvest. This organisation is 65% owned by CVC and 35% by DSM.
  • The deal includes the plants in Geleen (the Netherlands) and Nanjing (China), with all the employees. It also includes the subsidiaries of Fibrant BV and Fibrant Co. Ltd. and their participating interests in other companies. Fibrant LLC (USA) is excluded from the transaction.
  • The existing management of Fibrant will remain unchanged.

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.’