American Fibers and Yarns to Buy Ram Extrusion Filament Assets
Greenville, SC (September 7, 2000) American Fibers and Yarns Company today announced that, subject to completion of due diligence, it has agreed to buy certain assets associated with the operation of RAM Extrusion located in Dalton, Georgia. American Fibers and Yarns and RAM expect to complete the transaction by the end of September. The RAM purchase includes the filament yarn-related business but does not include any staple or carpet yarn.
American Fibers and Yarns has been operating since November 1, 1999. Frank G. Andrusko, President and CEO of the company, said, Our strategy is clearly focused on the expansion of our leadership position in olefin filament yarn for Home and Commercial Furnishings, Apparel, Automotive, and Industrial applications. The acquisition of RAM's assets dovetails nicely with our current market and customer base and also supports our growth plans.
American Fibers and Yarns Company is a leading manufacturer of polypropylene yarn with its corporate office in Cumming, GA, sales and marketing office in Greenville, SC, and plants located in Afton, VA, Rocky Mount, NC, and Bainbridge, GA.
American Fibers and Yarns recently exited the staple fiber business and announced the expansion of its Bainbridge, GA facility earlier this year.
Contact: David B. Gray