Indorama Ventures announced the acquisition of 80% of PHP with Toyobo taking the remaining 20%

Here is a link to the PHP announcement:

PHP Fibers Sale to Indorama Ventures Public (IVL) and Toyobo  

AKC Note: It has been known for some time that CVC Capital Partners were looking to sell their majority ownership of PHP and this announcement confirms that the sale of PHP has been completed. PHP is made up of the two Industrial Filament Divisions that were formerly part of Acordis – Polyamide High Performance and Diolen in nylon and polyester industrial filament respectively. The remaining parts of Diolen (in Germany) were taken over by PHP in 2009. Indorama has, in the last 3 years, made a number of acquisitions in various regions and various polymers as well as rapid growth in non fiber businesses. This is thought to be Indorama’s first acquisition into nylon. The presence of Toyobo as a minority owner is interesting. PHP have had a long relationship with Toyobo in nylon airbag yarns and in 2012 the two companies partnered in a j/v in Scottsboro AL to produce airbag fabric using yarn from the adjacent PHP plant. Together PHP and Toyobo will become the largest integrated airbag yarn and fabric producer with operations in Europe, US, Japan, Thailand and China.