FIBRANT TO WIND DOWN U.S. OPERATIONS

7/7/2016

AUGUSTA, Ga. - June 30, 2016 – Fibrant, the chemical supplier, today announced that, due to commodity pricing, as well as global supply and demand dynamics, it will begin a wind down of its Augusta, Georgia plant and U.S. business, Fibrant, LLC.

“Sadly, despite the excellent work of our employees and management, our business has been challenged by extended unfavorable market conditions,” said Pol DeTurck, CEO of Fibrant. “The market price for our product, caprolactam, has dropped substantially below the production cost, and prospects for recovery are poor. As a result, we reached the difficult decision that a wind down of the business was the only viable course of action.”

 The wind down will take place over approximately 16 months, during which time Fibrant will meet all obligations to its employees, and serve the needs of its customers to the extent possible.

 “I am extremely proud of our team here, and this unfortunate situation takes nothing away from their accomplishments,” added Bill Powers, Vice President of Operations for Fibrant, LLC. “In addition, we want to thank the people of Augusta and the business community for their support over the years.”