When Argos Wityu bought the flame-proof fibres maker Kermel in 2002, it was a division of indebted chemicals group Rhodia. Private equity provided the finances and expertise for Kermel to set up independently and embark upon an ambitious programme of R&D.
As a result the use of Kermel’s aramid fibres extended from flame-proof clothing to protect firefighters and workers in harzardous industries, such as petrochemicals, to making specialised filters for hot gases and electricity. Argos Wityu also brought in management with international experience to enable expansion into North America and Asia. In just five years, Kermel became the European leader in its field and almost doubled sales and quadrupled profits before it was sold in 2012.
Chairman and CEO
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