Propex Buys SI's Concrete Systems Geosolutions
Austell, Ga.-based Propex Fabrics
Inc., a manufacturer of woven and nonwoven polypropylene-based carpet backing and industrial
fabrics, has completed its acquisition of SI Concrete Systems Corp. and SI Geosolutions Corp. (SI),
former business units of Chickamauga, Ga.-based SI Corp.
The addition of the two companies creates a market-driven company that is secure and able to drive success, which benefits customers, employees, shareholders and suppliers, according to Propex. The transaction price was undisclosed.
As part of the merger, Propex’s headquarters will be relocated to northern Atlanta. Additionally, Ed Stanczak remains CEO and president of Propex, and former SI CEO Joe Dana is president of North American Operations, based in Chattanooga, Tenn. The company has formed transition teams to enable the integration of its operations by the end of summer 2006.