Martex Fiber Southern Corp. To Acquire JBM Fibers business
Acquisition to strengthen Martex Fiber’s position in textile recycling by diversifying into post-consumer shoddy (recycled fiber) manufacturing, broadening its product offerings and enhancing its access to recyclable raw materials.
Spartanburg, SC June 24, 2013 – Martex Fiber Southern Corp. (www.martexfiber.com) completed an add-on acquisition of JBM Fibers, a shoddy (recycled fiber) manufacturing business in Brownsville, Texas. JBM is a major regional player in the post-consumer textile waste industry providing recycled textile products to a diversified customer base nationwide.
Rick Otero, Chief Executive Officer of Martex Fiber, said, “Our acquisition of JBM Fibers’ assets will expand our pre-consumer textile recycling leadership position into the post-consumer segment. JBM’s position is extremely complementary to our “No fiber left behind” strategy, which diverts more than 130 million pounds of pre-consumer material each year from landfills, while also upgrading those materials into wiping rags and remnants for paint and industrial cleaning, shoddy for insulation and padding markets, and high quality recycled yarns for knitting and upholstery applications for our global customer base. Martex Fiber’s Brownsville division will also open up markets and geographies that we had not previously served.”
For more information contact Marc Williamson at (215) 928-1767 or firstname.lastname@example.org.
Martex Fiber Southern Corp. (www.martexfiber.com) is a leading recycler of pre-consumer textile waste, offering textile waste collection services, rag sales, and conversion into recycled fiber and yarn products. Manufacturing facilities are located in Lincolnton, GA and Spartanburg, SC with administrative offices in Charlotte, NC, and Philadelphia, PA. Martex has been producing environmentally friendly products since the 1970s.
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Company: Martex Fiber Southern Corp.