An Affiliate of Sun Capital Completes Purchase of Performance Fibers Business Unit from Honeywell.COLONIAL HEIGHTS Colonial Heights, city (1990 pop. 16,064), in, but independent of, Chesterfield co., SE Va.; inc. as a city 1948. Chemicals, metal products, and whiskey are manufactured and peanuts, grain, soybeans, and tobacco are grown. , Va. -- Sun Capital Partners, Inc. today announced the completion by one of its affiliates of the purchase of Honeywell International Inc.'s (NYSE NYSE See: New York Stock Exchange : HON) Performance Fibers business unit. The new business, Performance Fibers, is a global leader in high-performance industrial fibers and related materials, with operations in the U.S., France, Korea and China. "We are excited about the future of this business and the many growth opportunities we see in the global market for industrial fibers and related technologies," said Greg Rogowski, president and chief executive officer, Performance Fibers. "We plan to continue our leadership in this industry and to grow by providing our customers with the technology innovation they require and the quality and reliability they expect." M. Steven Liff, Principal at Sun Capital Partners, Inc., a leading private investment firm specializing in leveraged buyouts and turnarounds of market-leading companies that is acquiring the Performance Fibers business added, "Performance Fibers is a global leader, and by combining our business expertise at Sun Capital with the strengths of Greg Rogowski and his management team, we expect to enhance Performance Fibers' position in its market niche. Through our investment, the Company will be able to take advantage of numerous opportunities that will strengthen its core competencies." Performance Fibers has retained its experienced global leadership team and will continue operations at all of its plants, which include Moncure, North Carolina Moncure is a small, rural area in southeastern Chatham County, NC. The community is located near the confluence of the Deep and Haw River. That confluence forms the Cape Fear River. The B. ; Longlaville, France; and joint venture operations in South Korea and Kaiping, China. "Customers can expect us to build on our legacy as solutions providers and to continue to provide advanced materials Advanced Materials is a leading peer-reviewed materials science journal published every two weeks. Advanced Materials includes Communications, Reviews, and Feature Articles from the cutting edge of materials science, including topics in chemistry, physics, that can replace more costly and less efficient materials," said Jeff Shugart, global marketing manager of Performance Fibers. The sales agreement was announced on November 3, 2004. Terms of the transaction were not disclosed. Performance Fibers is one of the world's leading suppliers of high-tenacity polyester and a global manufacturer of other man-made industrial fibers. With manufacturing facilities in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Asia and Europe, its products are used in a wide range of consumer and industrial applications. Formed in December 2004, the business was formerly part of Honeywell International. For more information, visit www.performancefibers.com. Editor's Note Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat. Trained by D. : Executive headshots and leadership team photos are available by contacting Sandy Frinton, JMC JMC Joint Military Commission JMC Jefferson Medical College JMC Jax Money Crew (computer gaming) JMC Joint Munitions Command (US Army; Rock Island Arsenal, Rock Island IL) JMC James Madison College Marketing Communications Marketing communications (or marcom) are messages and related media used to communicate with a market. Those who practice advertising, branding, direct marketing, graphic design, marketing, packaging, promotion, publicity, sponsorship, public relations, sales, sales & PR at (845) 454-3985; (845) 331-1200 or sandy@mallen.com. |
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