Bast Fiber Technologies Inc. (BFT), a manufacturer of premium natural fibers for the global nonwoven and textile industries, has entered into a definitive agreement to acquire Lumberton Cellulose LLC (LC), a processing plant of natural fibers located in Lumberton, North Carolina, Georgia. -Pacific Cellulose LLC.
“Acquire this state-of-the-art natural fiber processing facility and the integration of the large Lumberton team allow BFT to immediately establish manufacturing in North America operations to meet the growing demand for our sustainable natural fibers, ”said BFT CEO and President Noel Hall. “CrazyDue to our recent acquisition of the Germany-based FVT fiber optic processor, this is another key milestone in our long-term strategy of building significant high-quality manufacturing capacity for our global customers, supporting our main mission of ‘grow local, treat local, sell local‘.”
LC purchase builds on BFT’s existing relationship with Georgia-Peaceful. In February 2020, BFT licensed a series of patents relating to the use of bast fibers in a variety of nonwoven products and processes from Georgia-Pacific Consumer Products on a worldwide exclusive basis.
The LC facility is a highly automated, quality natural fiber producer for the personal care and hygiene markets. Ideally located ato serve BFT’s North American customers, BFT plans to grow and invest in the operation, making LC its flagship manufacturing site in the United States and opening up new opportunities and markets for North American hemp and flax producers.
“This acquisition is a key strategic step in our mission to develop significant manufacturing capacity while supporting the vast potential of hemp and flax grown in North America,Said BFT President Jim Posa. “Lumberton Cellulose is one of the best quality producers fiber and with the current infrastructure and an excellent and very experienced team at Lumberton, we plan to significantly expand the plant’s production capabilities during the coming years. This acquisition will play a critical role in supporting North America transition of manufactured plastic and cellulosic fibers to a sustainable future. “
“The Lumberton Cellulose team are 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 capabilities as we continue to supply current customers, including Georgia-Pacific Consumer Products, while developing and building additional weed fiber capacity and the creation of new customers.
The final purchase will be completed during the first fiscal quarter of Bast Fiber Tech, subject to satisfaction customary closing conditions.