Universal Fibers deal expected to aid in diversification
Bristol-based Universal Fibers Inc. has purchased the continuous filament bi-component production assets of Fiber Innovation Technology Inc.
Fiber Innovation Technology, based in Johnson City, Tenn., develops and produces bi-component and other customized staple fibers. Universal Fibers’ purchase agreement with F.I.T. involves only the continuous filament bi-component assets of the company.
The deal is part of the company’s market diversification strategy, which included the recent creation of its business development group.
Marc Ammen, the CEO of Universal Fiber Systems, described the deal as “a key purchase” in improving the company’s position as a leader in solution-dyed commercial, residential and automotive carpet fiber and reaching new market segments.
The newly acquired bi-component assets of Universal Fibers will be led by Don Berlin, technical sales and business development manager.
“Bi-Component technology offers varied and distinct advantages to single component technology, since it accommodates fiber constructions tailored for more specific functions including anti-static, conductive, antimicrobial, super hydrophilic, super hydrophobic, stain resistance, low melt and heat resistance,” he said in a statement. “These advantages yield benefits in performance, cost savings and reduced lead times.”