Empire Investment Holdings Expands Management Team at Polyester Fibers
Miami, Florida, March 5, 2010 (Business Wire) -Empire Investment Holdings, a private investment firm focused on the acquisition and strategic management of non-core business units, announced today that it has expanded the executive management team of its portfolio company, Polyester Fibers, LLC. Mr. Shannon C. Marshall has been appointed chief executive officer and Mr. Scott M. Sannes has been appointed chief financial officer. Polyester Fibers is the largest manufacturer and distributor of value-added, high-loft non-woven materials for the bedding, furniture, filtration, industrial and retail marketplace in the United States.
Mr. Marshall is a proven senior executive with over twenty years experience and an extensive track record in accounting, finance, operations, sales, M&A and executive management. He has held management positions with Hanes Companies, Inc., Jason Incorporated and Ernst & Young. Mr. Marshall earned a bachelor’s degree in accounting from Appalachian State University and is a Certified Public Accountant.
Mr. Sannes is a senior executive with over fifteen years of general management, finance and accounting experience. He has held management positions with Jason Incorporated and PriceWaterhouseCoopers. Mr. Sannes earned a bachelor’s degree in accounting from the University of Wisconsin-Madison and is a Certified Public Accountant.
"We have found both Shannon and Scott to be highly capable and energetic leaders," said David F. Alfonso, Empire's chairman and chief executive officer. "Being the market leader, Polyester Fibers required a championship caliber management team positioned to exceed our expectations for meaningful and consistent growth, coupled with providing the highest quality products and services to our customers."
"I am honored to have assumed the helm of a company with this type of opportunity and with the best workforce in the industry," said Shannon C. Marshall, chief executive officer of Polyester Fibers. "2010 is truly going to be an exciting year for Polyester Fibers," said Marshall. I am confident that we can deliver on our clear mandate to grow organically and through acquisition, since we have dramatically improved our operational efficiencies, which has resulted in a strong financial position."
About Empire Investment Holdings
Empire Investment Holdings ("Empire") is a private investment firm focused exclusively on the acquisition and strategic management of non-core business units from public and private corporations. Empire adheres to a well defined and focused acquisition strategy that is driven by the firm's history in acquiring, operating and managing over 50 corporate divestitures across several industries. Empire's approach is specialized in addressing the complexities of acquiring non-core business units, as well as ensuring post close business continuity. Today, Empire’s portfolio is comprised of 7 operating companies, serving over 10,000 customers worldwide, with an international footprint of 25 facilities encompassing over one million square feet of space and over 1,000 employees. For additional information please visit www.empireih.com.
About Polyester Fibers, LLC
Polyester Fibers is the largest and most flexible manufacturer and distributor of value-added, high-loft non-woven materials for the bedding, furniture, filtration, industrial and retail markets in the United States. The company, comprised of 5 operating units; Tupelo Fibers, Cameo Fibers, Cumulus Fibres, Mountain Mist and Buffalo Batt, has more than 450 employees serving thousands of customers in the United States, Canada and Europe.
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