Engineered Specialty to leave tyre cord fabric business

Greenville, South Carolina - Engineered Specialty Textiles said it will leave the tyre cord fabric business within 30 days to concentrate on its two core markets: engineered yarns and conveyor belt fabrics.

The action will allow the firm to make significant investments in hose yarns, single-end tyre cord and conveyor belt fabrics, according to CEO Mark Daniels. "EST is committed to these industries and we realise that our investments need to focus on the markets in which we are industry leaders," he said.

EST is headquartered in Greenville and has manufacturing facilities in Hogansville, Thomaston and Porterdale, Georgia. The company was acquired in January 2005 by Porterdale Acquisition LLC for $9.37 million from Dan River Inc. Porterdale is an affiliate of Specialty Fabrics Inc. and Thomaston, Georgia-based Royal Cord Inc. - producers of yarns and fabrics for the rubber goods market.

From Rubber & Plastics News (A Crain publication)