Integration of Groesbeck filtration business unit into Polyester Fibers

01 Apr '11

2 min read

Empire Investment Holdings ("Empire"), a private investment firm focused on the acquisition and strategic management of non-core business units from public and private corporations, announced that it has finalized the integration of the Groesbeck filtration business unit, formerly a division of Ahlstrom Corporation, with its platform portfolio company, Polyester Fibers.

"I am very pleased with both the speed and accuracy in which our operations team has completed the integration of the Groesbeck filtration business unit into Polyester Fibers," said David F. Alfonso, Empire's chairman and chief executive officer. "We are committed to strategically growing our portfolio company both organically and acquisitively."

The Groesbeck filtration business unit, which is now part of Cumulus Fibres, was acquired from Ahlstrom Corporation on December 15, 2010. With the acquisition, Polyester Fibers added over 100 employees, customers in North America, Asia and Europe and annual revenues of approximately $25 million.

Polyester Fibers remains committed to being the market leader in the nonwoven industry, while providing quality products and unmatched customer service to the various markets it serves. Polyester Fibers is the largest and most diverse manufacturer and distributor of value-added, high-loft nonwoven materials for the bedding, furniture, filtration, craft, industrial, automotive and seasonal markets in the United States.

Empire Investment Holdings

More Textiles News - United States Of America...