Privately-held Fibrant, LLC (aka DSM Chemicals North America, LLC) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Georgia, case number 18-10274. The Company is based in Augusta, GA and headed by David Leach as President and General Manager. Fibrant is represented in bankruptcy proceedings by Paul Ferdinands of King & Spalding.
The Company explains, “Since Fibrant commenced operations in 1966, the 600-acre industrial complex has been one of the largest employers in the Augusta area with as many as 700 workers at its peak. The chapter 11 petition follows the June 2016 announcement that Fibrant would close its caprolactam manufacturing facility due to prolonged operating losses caused by historically low international caprolactam prices, material increases in raw material prices and increased global competition. The facility, which produced chemicals used in the manufacture of synthetic fibers, subsequently ended caprolactam production in the fall of 2016.”
Read more bankruptcy news.