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AFFC Holdings To Acquire Amoco Fabrics And Fibers

AFFC Holdings Inc., a recently formed company sponsored by a group of investors comprising Laminar Direct Capital LP, Genstar Capital LP and The Sterling Group LP, has agreed to acquire Austell, Ga.-based Amoco Fabrics and Fibers and its related assets. Amoco, a subsidiary of London-based BP, is a major producer of man-made fabrics and the world's largest producer of primary and secondary carpet backing.

Amoco management is expected to play a significant role in the ownership of the new business. The transaction is expected to be finalized in the fourth quarter of this year.

November 2004




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