Empire Investment Holdings Appoints Charles Adams CEO of Polyester Fibers

MIAMI, Mar 13, 2012 (BUSINESS WIRE) — Empire Investment Holdings (“Empire”), a private investment firm focused on the acquisition and strategic management of non-core business units from public and private corporations, announced today the appointment of Charles Adams as its chief executive officer of Polyester Fibers, a holding company that manages five operating units.

Polyester Fibers is the largest and most flexible manufacturer and distributor of value-added, high-loft nonwoven materials for the bedding, furniture, industrial, auto, filtration, craft, and seasonal markets in the United States. The company is comprised of 5 operating units: Tupelo Fibers, Cameo Fibers, Cumulus Fibres, Mountain Mist and Buffalo Batt. The company operates 10 plants and 2 distribution centers, with a world-wide network of hundreds of associates and affiliates that allows it to serve thousands of customers in North America, Asia and Europe.

Mr. Adams comes to Polyester Fibers with over thirty years of industry experience, having held senior executive positions with Milliken & Company, Morgan Fabrics and the Victor Group. During his 26 years with Milliken & Company, Mr. Adams held various senior leadership roles, including general manager of the Commercial and Residential Interior Fabrics business. He was then named president and chief operating officer for Los Angeles-based Morgan Fabrics and immediately prior to joining Polyester Fibers was chief officer of sales and products for the Victor Group, a Quebec-based leading supplier of Commercial and Residential fabrics. Mr. Adams received his undergraduate degree from Campbell University and completed the management program at The Institute for Textile Technology as well as the executive program at the University of Virginia’s Darden School of Business.

“I have great confidence in Charles and his team,” said David F. Alfonso, Empire’s chairman and chief executive officer. “Polyester Fibers is well positioned for meaningful growth and Charles is the right industry leader that will provide a significant impact on executing that growth.”

“I am incredibly excited about joining the Polyester Fibers team,” said Charles Adams, chief executive officer. “Polyester Fibers has a great platform for continued growth and enjoys a leadership position in key market segments. I am looking forward to working with all of our associates at Polyester Fibers as we focus on operational excellence, strategic clarity and delivering value to our customers across all segments.”

About Empire Investment Holdings

Empire Investment Holdings (“Empire”) is a private investment firm focused on the acquisition and strategic management of non-core business units from public and private companies. Empire has acquired business units from Fortune 500 companies such as: IKON Office Solutions, Teleflex Corporation, Leggett & Platt and Ahlstrom Corporation. Today, Empire’s portfolio is comprised of six operating companies serving over 10,000 customers worldwide with an international footprint of 22 facilities and more than 1,000 associates. For additional information please visit www.empireih.com .

SOURCE: Empire Investment Holdings

        Empire Investment Holdings, Miami 
        Jaclyn Roque, 305-403-1111 

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