US equity firm completes sale of FiberVisions to Thai Indorama

10 January 2012 15:33  [Source: ICIS news]

HOUSTON (ICIS)--US private equity firm Snow Phipps has completed the sale of mono- and bi-component fibre producer FiberVisions to Thailand-based polyester major Indorama for an undisclosed sum, it said on Tuesday.

Snow Phipps closed the sale on 6 January. Indorama had first disclosed the deal on 4 January.

Snow Phipps purchased a controlling interest in FiberVisions from Hercules in 2006 and subsequently acquired a 100% interest in the company.

FiberVisions, based in Duluth, Georgia, has a total global production capacity of 221,000 tonnes/year of specialties, with 117,000 tonnes/year being produced in the US, 90,000 tonnes/year in Europe and 14,000 tonnes/year in China.

The products made by FiberVisions and its subsidiaries are utilised in non-woven industries and used for various applications in hygiene, wipes, construction, automotive and textile sectors.

Additional reporting by Franco Capaldo

By: Stefan Baumgarten
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