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Lumite To Buy Propex Plant

July 3, 2008

Lumite is a subsidiary of Greece-based Thrace Plastics Group.

Plans are underway at Lumite Inc., a geotextiles specialist headquartered in Gainesville, GA, to acquire the Yonah plant of needlepunch roll goods producer Propex Inc. Lumite is a subsidiary of Greece-based Thrace Plastics Group.

The 226,200-square-foot facility, located in Alto, GA, manufactures specialty nonwovens for geotextiles, monofilament filtration fabrics, protective nets and recreational applications. The acquisition is expected to enable Lumite to strengthen its geotextile products distribution capabilities to better serve the expanding global geosynthetics market.

“The acquisition of the Yonah plant directly supports our objectives to increase production capacity and to further expand the company’s U.S. market,” said Ron Rooks, president, Lumite. “The purchase is in accordance with Lumite’s and Thrace Plastics’ mutually ambitious pursuit of an evolving geosynthetics industry. This is an excellent example of how we plan to meet the evolving global market demand with a unified, aggressive approach.”