DSM
ChemicaInvest JV completes sale of caprolactam business to Highsun
Royal DSM (Heerlen / The Netherlands; www.dsm.com) said its ChemicaInvest joint venture has completed the sale of its Fibrant (Sittard / The Netherlands; www.fibrant52.com) caprolactam activities to Highsun Holdings (Hong Kong; http://en.highsunchina.com).
The sale, announced in May 2018 – see Plasteurope.com of 24.05.2018 – includes Fibrant BV, which operates a caprolactam plant in Geleen / The Netherlands and 60% of Fibrant Co Ltd, operator of a plant in Nanjing, Jiangsu / China. The remaining 40% of the Chinese arm will stay with its current owner, a Sinopec JV. ChemicaInvest is owned 35:65 by DSM and CVC Capital Partners (London / UK; www.cvc.com).
DSM said it expects to receive about EUR 200m in cash related to this transaction, which is to be completed in various steps in 2018 and 2019. The company still owns 19% of AOC Aliancys, a composite resins JV with CVC, and 35% of AnQore, an acrylonitrile JV with CVC.
The sale, announced in May 2018 – see Plasteurope.com of 24.05.2018 – includes Fibrant BV, which operates a caprolactam plant in Geleen / The Netherlands and 60% of Fibrant Co Ltd, operator of a plant in Nanjing, Jiangsu / China. The remaining 40% of the Chinese arm will stay with its current owner, a Sinopec JV. ChemicaInvest is owned 35:65 by DSM and CVC Capital Partners (London / UK; www.cvc.com).
DSM said it expects to receive about EUR 200m in cash related to this transaction, which is to be completed in various steps in 2018 and 2019. The company still owns 19% of AOC Aliancys, a composite resins JV with CVC, and 35% of AnQore, an acrylonitrile JV with CVC.
06.11.2018 Plasteurope.com [241025-0]
Published on 06.11.2018
German version of this article...