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Exxon finalizing sale of woven plant.

Exxon Finalizing Sale Of Woven Plant

Negotiations on a buyout of Exxon Chemicals' woven polypropylene fabrics business are currently being finalized. The purchase, by an investment group headed by two Exxon Chemical employees, was precipitated because Exxon no longer feels the business fits with its long term strategic goals.

Included in the buyout will be the property, inventory and equipment at Exxon's Summerville, SC fabrics manufacturing plant; this encompasses woven geotextile fabrics, landscape fabric and ground cover, intermediate bulk container fabrics, cotton bale wrap and carpet backing. Negotiations do not include the company's recently announced Plastics Recycling Center, due to open on adjacent property next year.
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Title Annotation:Exxon Chemicals, woven polypropylene fabrics plant in Summerville, South Carolina
Publication:Nonwovens Industry
Article Type:Brief Article
Date:Dec 1, 1991
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