AIF Capital is pleased to announce that the Fund and another PE investor have agreed to sell control in X-FIPER to a strategic investor, Beijing Tongyizhong New Material Co., Ltd. Tongyizhong is a PRC company listed on the Shanghai Stock Exchange (SHSE: 688722). The sale marks the conclusion of a successful turnaround story following AIF Capital and another PE investor acquiring control in 2021.
Tongyizhong produces high-performance fibers and related composites that play a significant role in fields such as marine engineering, security protection, among others. With their investment in X-FIPER, Tongyizhong could expand and integrate their product offerings on protection solutions.
X-FIPER is a leading producer of aramid fibers and papers for the domestic and global markets. Aramid materials are important in a wide array of applications, including protective clothing, electronic insulation, aerospace, wind turbines and rail transportation.