Johnston Industries acquires the T.J. Beall Company, leading player in fast-growing textile re-ginning sector.COLUMBUS, Ga.--(BUSINESS WIRE)--April 1, 1996--Johnston Industries, Inc. (NYSE NYSE See: New York Stock Exchange :JII JII Journey Into Imagination (Disney ride) JII Joint Integration Interface JII Jupiter II (ship on "Lost In Space" TV series) ), a diversified textile manufacturing company, said today it has completed the acquisition of the T. J. Beall Company, one of the leading private firms in the rapidly growing cotton re- ginning sector of the textile industry. Terms of the transaction were not disclosed. The acquired company will become a unit of Johnston's Wellington Sears subsidiary, also a major diversified textile manufacturer. Though it will continue to be a separate entity, T.J. Beall will operate as part of Wellington Sears' Utilization operation, which specializes in the recycling of textile by-products. A family-owned enterprise, T.J. Beall has facilities in West Point, Georgia West Point is a city in Harris County and Troup County, Georgia. It is part of the Columbus, Georgia-Alabama Metropolitan Statistical Area. As of the 2000 census, the city had a total population of 3,382. , and Flora, Misissippi. The Beall family pioneered re-ginning in the cotton textile industry more than 60 years ago. Commenting on the Beall acquisition, Gerald B. Andrews, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Johnston Industries, stated: "Johnston Industries is the only textile manufacturing firm I know of that is also a leading re-cycler, making Beall an excellent strategic fit with our existing textile by-products operation. We see very significant growth potential in the re-ginning sector of the textile industry." T.J. Beall's prime business activity is the re-cycling of gin motes or non- perishable per·ish·a·ble adj. Subject to decay, spoilage, or destruction. n. Something, especially foodstuff, subject to decay or spoilage. Often used in the plural. fibers separated from cotton during the ginning process. The re-ginned fibers are baled and sold to the spinning trade for yarn production, weaving, non- woven textiles and related applications. The company is also involved in the purchasing and selling of textile fibers and their by-products, many of which are exported. Johnston Industries, Inc. is a diversified manufacturer of textile fabrics with annual sales of approximately $350 million. In addition to Wellington Sears, its other operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. -- Opp and Micolas and Southern Phenix Textiles -- produce woven and nonwoven non·wo·ven adj. Made by a process not involving weaving. Used of textiles. n. Material or a fabric made by a process not involving weaving. textiles for the industrial and home furnishings sector and, to a lesser extent, for the basic automotive and apparel sectors. The company's newest venture, Johnson Industries Composite Reinforcements, Inc., makes VECTORPLY~ and other sophisticated multiaxial Mul`ti`ax´i`al a. 1. (Biol.) Having more than one axis; developing in more than a single line or plain; - opposed to monoaxial nt>. non-crimp reinforcing fabrics from fiberglass, carbon and aramid fibers used in engineering composites for a wide variety of applications. CONTACT: Johnston Industries Inc. Gerald B. Andrews or John W. Johnson, 706/641-3140 or The Dilenschneider Group Pat Westring or Joel Pomerantz, 212/922-0900 |
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