With this acquisition, Fibrix increases its manufacturing capacity in the Carolinas and further establishes itself as a leading producer of nonwovens in the Eastern U.S. The additional resources will facilitate faster deliveries and increased production capabilities. This acquisition is part of an overall growth strategy to establish manufacturing operations throughout the U.S., allowing Fibrix to better serve regional, national, and multi-national customers.
"This acquisition allows us to better meet demand fueled by the company's rapid growth," says Keith White, CEO and co-founder of Fibrix. "We're now positioned to offer a greater variety and volume of products than ever before, making Fibrix a more strategic supplier for an even wider base of customers."
The CNI transaction was completed April 21. Terms of the asset purchase were not disclosed.