Propex Fabrics Inc., Austell, Ga., recently announced closing of a deal for SI Concrete Systems Corp. and SI Geosolutions Corp., known collectively as
Propex Fabrics Inc., Austell, Ga., recently announced closing of a deal for SI Concrete Systems Corp. and SI Geosolutions Corp., known collectively as SI. SI CEO Joe Dana becomes president of North American Operations, with headquarters in Chattanooga, Tenn. Propex CEO Ed Stanczak will maintain his title and head the Austell-based entity.
The combined Propex-SI will be one of the world’s leading producers of polypropylene-based fabrics for primary and secondary carpet backing, geosnythetic applications, and a variety of other industrial end uses. Propex was acquired in December 2004 by a group of private equity firms including Sterling Group and Laminar Direct Capital, Houston, and Genstar Capital, San Francisco.
Propex is reportedly the world’s largest producer of primary and secondary carpet backing, and a leading manufacturer and marketer of polypropylene sythetic fabrics. Best known in concrete for parlaying Fibermesh as a synthetic reinforcing fiber standard and subsequently adding the Novocon steel fiber product line, SI had recently exited carpet and rug-backing products, selling a Georgia plant and related assets to Shaw Industries last fall.