29 April 2009 – Chattanooga-based Propex Holding LLC has named Stan Brant, Jr., as President, Chief Executive Officer, effective immediately.
Mr. Brant is a proven leader with experience as a chief executive, most recently serving as the Executive Vice President and Chief Operating Officer for Propex, Inc, responsible for directing all of the company’s geosynthetic, concrete, furnishing and industrial fabrics and fiber manufacturing activities. Prior to joining Propex, Brant spent 17 years with Duracell, where he held several key manufacturing and engineering leadership roles and ultimately served as Vice President of Engineering for Duracell Batteries.
The premier global supplier of polypropylene fabrics and fibers for geosynthetic, concrete, furnishings and industrial markets, Propex recently concluded the sale of all of its assets to Propex Holding, LLC, an entity owned by a fund managed by Wayzata Investment Partners, a Minneapolis based private equity firm. Under the new entity, Propex has a strong foundation and sufficient liquidity to aggressively expand its market leadership.
“I am honored to lead Propex at this important time in its history and excited about the opportunity to work with Wayzata to grow the Propex business,” said Brant. “Propex brands represent some of the most innovative solutions to the global market. I look forward to expanding our impact on those markets and creating an even more dominant position for the company around the world.”
Brant expressed gratitude to Woody McGee, who served as the President and Chief Executive Officer of Propex, Inc. for the past year. “The Board and all Propex employees appreciate the dedication and energy that Woody invested to best position the company to grow and prosper in the current marketplace while getting us ready to capitalize on our future beyond Chapter 11.”
The company will provide updates regarding ongoing operations plans as they become available. This press release and future press releases will be posted online in the “Press Room” section of www.propexinc.com.
ABOUT PROPEX HOLDING LLC
Propex is the leading producer of geosynthetic, concrete, furnishing and industrial fabrics and fiber with more than 2,500 employees worldwide in manufacturing, distribution and office facilities. A leader in forward-thinking research and market education, Propex creates a competitive advantage for customers by finding solutions to their greatest technical challenges and providing exceptional service and expertise from initial order to on-site installation. Known for fostering partnerships that generate long-term results, Propex also collaborates with customers to enhance their profitability by bringing innovative solutions to the marketplace-including a multitude of products used daily by consumers around the world. Propex – creating the advantages that create success.
CONTACT INFORMATION
Media Contacts:
Sandy Stewart
Propex Inc.
+1 423 553 2894
Sandy.stewart@propexinc.com
Brian Baker
The Johnson Group
+1 423 424 3075
bbaker@johngroup.com
