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Silva Acquires Liberty Fabrics

Silva Acquisition Corp., Lowland, Tenn., has purchased the assets of Lowland-based Liberty Fibers Corp., the last remaining rayon staple manufacturer in North America. According to Craig E. Barker, president and CEO, Silva Acquisition, the purchase, which includes the company's name and other intellectual property, will enable liquidation of the original company, while Silva Acquisition continues to operate the business as Liberty Fibers Corp., maintaining a workforce of approximately 350 and improving efficiency and profitability. Barker said the new company is working to rebuild its raw material base, and to increase production and sales in the coming months.

August 2004