Lifestone Materials Establishes Weaving Operation In South Carolina

LifeStone Materials LLC, a joint venture of Pompano Beach, Fla.-based Point Blank Solutions Inc. (PBSI) and Israel-based FMS Enterprises Migun Ltd., will invest $5.5 million to establish a weaving facility in Anderson, S.C., for the production of high-performance, protective fabrics for applications including ballistics fabrics for the US military, law enforcement agencies and other government agencies.

PBSI is a designer and producer of high-tech soft body armor systems for the US military, domestic law enforcement, and other state and local agencies. FMS is a producer of high-tech lightweight ballistic armor materials, including aramid ballistic fibers, for the global protection industry.

“We, with FMS, have worked hard to structure a joint venture that aligns our interests and makes great business sense for both companies,” said Larry Ellis, president and CEO, PBSI, adding that the joint venture provides weaving capabilities to PBSI, which previously has sourced fabrics from various weavers.

The new facility will employ 45 workers and is expected to be fully operational by the end of this month, according to company spokesperson Glenn Wiener. LifeStone Materials is leasing an existing 80,000-square-foot building in Anderson and will weave fabrics for PBSI and FMS, taking advantage of research and development efforts among all three companies. Craig Trask, previously a plant manager for PBSI, has been named production manager for the new company.

“Point Blank Solutions, FMS and LifeStone Materials are all committed to making our operations in Anderson, S.C., a success,” Wiener said, noting that state and local leadership have provided very positive support. “We look forward to growing to be a vibrant part of the Anderson community,” he added.

June 3, 2008