Caprolactam supplier Fibrant is winding down its US operations. The company, which was sold off by Netherlands firm DSM, will close its production site in Augusta, Georgia, with the loss of several hundred jobs.
The company said the closure was the ‘only viable course of action’ in the face of extended unfavourable market conditions caused by poor commodity chemical prices, as well as ‘global supply and demand dynamics’.
Fibrant will continue to produce caprolactam for nylon manufacture in the Netherlands and China. The company employs around 1200 staff across the three continents.
By Phillip Broadwith
Source: Chemistry World
The investment enables the steam cracker to increase the share of renewable and recycled raw materials used in its (ethylene and propylene) production. The move supports the Borealis Strategy 2030 for a circular economy. The Porvoo investment program is expected to be completed in 2025.
Murray Auchincloss, bp’s CEO, said in a statement: “As I set out in February, BP’s destination from IOC [international oil company] to IEC [integrated energy company] is unchanged – and we need to deliver as a simpler, more focused, and higher-value company.
Founded in 1972, Tecnofilm has expanded its product portfolio over the years to offer a wider range of compounds and functional polymers for various industrial applications and technical articles. The company has patented several of its products.
