Martex Fiber Southern Corp. Acquires JBM Fibers
Home & Textiles Today Staff -- Home Textiles Today, July 25, 2013
SPARTANBURG, S.C. - Martex Fiber Southern Corp. has completed an add-on acquisition of JBM Fibers, a shoddy (recycled fiber) manufacturing business in Brownsville, Texas.
Terms were not disclosed.
Martex Fiber ceo Rick Otero said the deal will expand the company's pre-consumer textiles recycling 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," he added.
The acquisition also brings Martex Fiber's Brownsville division into new markets and geographies.
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