PGI Sells FabPro Unit To Tricor Pacific Capital
Polymer Group Inc. (PGI), Charlotte, has sold its Kingman, Kan.-based FabPro Oriented Polymers LLC
subsidiary to an affiliate of private equity firm Tricor Pacific Capital Inc., based in Chicago and
Vancouver, B.C., Canada, as part of PGI's strategy to focus on its core nonowovens business in
hygiene, medical, wipes and industrial markets.
FabPro, acquired by PGI in 1998 from Exxon Chemical Co., produces high-performance polymers and man-made fibers for agricultural, construction and commercial applications. The sale will include production sites in Kingman and Clearfield, Utah; and a converting facility in Guntown, Miss.
"FabPro has top leadership positions in the agriculture and construction segments in North America and recognized brand names," said Brad Seaman, Tricor Pacific Capital. "We are eager to assist the management team in executing their growth plans and see strong growth potential as synthetic fibers increasingly replace steel and wire in many applications."