Martex Fiber Acquires JBM Fibers Inc.
JBM Fibers operates a 55,000-square-foot manufacturing plant and has an additional 200,000-square-foot storage warehouse in Brownsville; and has a 45,000-square-foot facility in Mexico for sorting, cleaning and pre-blending additional raw material.
"Our acquisition of JBM Fibers' assets will expand our pre-consumer textile recycling leadership position into the post-consumer segment," said Rick Otero, CEO, Martex Fiber. "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. Martex Fiber's Brownsville division will also open up markets and geographies that we had not previously served."
June 25, 2013