Bast Fiber Technologies to acquire North Carolina-based Lumberton …


12.01.2022 – 01:30

Bast Fiber Technologies Inc.

Victoria, British Columbia (ots/PRNewswire)

Establishment of the first large plant for processing natural fibers in North America to cope with the rapid growth of North American hemp production

Bast Fiber Technologies Inc. (BFT), a manufacturer of premium natural fibers for the global nonwovens and textile industries, announced today that it has signed a definitive agreement to acquire Lumberton Cellulose LLC (LC) from Georgia-Pacific Cellulose LLC. It is a plant for processing natural fibers in Lumberton, North Carolina.

“With the acquisition of this state-of-the-art natural fiber processing facility and the integration of the great team at Lumberton, BFT can now establish manufacturing operations in North America to meet the rapidly growing demand for our sustainable natural fibers,” said the CEO and Chairman of BFT. Noel Hall: “After the recent takeover of the German-based fiber processor FVT, this is another important step in our long-term strategy of building up significant, high-quality manufacturing capacities for our global customers. We want to support our core mission: growing locally, processing locally and sell locally. “

The acquisition of LC builds on BFT’s existing relationship with Georgia-Pacific. In February 2020, BFT licensed a number of patents covering the use of bast fibers in a variety of nonwoven products and processes from Georgia-Pacific Consumer Products on a global, exclusive basis.

The LC system is a highly automated quality producer of natural fibers for the body care and hygiene market. BFT’s location is ideal for serving its North American customers and the company plans to grow and invest in operations. LC is to be established as a flagship production location in the USA and open up new opportunities and markets for North American hemp and flax growers.

“This acquisition is an important strategic milestone in our mission to build significant manufacturing capabilities while supporting the tremendous potential of North American hemp and flax,” said BFT President Jim Posa Infrastructure and the excellent, highly experienced team at Lumberton, we expect to expand the facility’s manufacturing capabilities significantly over the next few years, and the acquisition will play an essential role in supporting the transition from plastics and manufactured cellulose fibers to a more sustainable future in North America . “

“The Lumberton Cellulose team is excited about the opportunity to join the BFT team and grow our business,” said Chuck Oxendine, Lumberton Plant Manager. “This acquisition is a good fit for our people and skills. We continue to serve existing customers , including Georgia-Pacific Consumer Products, are expanding additional bast fiber capacities at the same time, creating new customers. “

The final purchase will close in the first fiscal quarter of Bast Fiber Tech, subject to customary closing conditions being met.

HIGH RESOLUTION PICTURES YOU CAN HERE DOWNLOAD

INFORMATION ABOUT BAST FIBER TECHNOLOGIES INC. – www.bastfibretech.com

Bast Fiber Technologies Inc. (BFT) is a three-end cleantech fiber technology company that makes specialty natural fibers for applications in the nonwoven and textile industries. With the help of advanced fiber processing technology, BFT processes raw bast fibers from hemp and linen plants to meet the high standards demanded by nonwoven and textile customers. Bast plants are annual plants with a high proportion of biomass that can alleviate the growing pressure on global forest resources. At the same time, they can absorb carbon, revitalize soils and preserve biodiversity.

INFORMATION ABOUT LUMBERTON CELLULOSE LLC Georgia-Pacific’s Lumberton Cellulose division serves the cosmetic cotton, filtration, hygiene and nonwovens market segments. Opened in 1968, the facility employs approximately 25 people in five interconnected buildings (approximately 370,000 square feet total) on 65 acres.

Contact:

Larisa Harrison, [email protected], Phone: +1 (778) 600-1501
Logo – https://mma.prnewswire.com/media/1723834/bft_logoandtype_colour_darktext.jpg

Original content by: Bast Fiber Technologies Inc., transmitted by news aktuell


www.presseportal.de

Leave a Reply

Your email address will not be published.