NASHVILLE — BP Amoco Fabrics and Fibers, known locally as Nashville Mills, has been sold to an investment group, AFFC Holdings, Inc.

Financial terms of the transaction were not disclosed. Plant Manager Jamie Welborn said it’s “business as usual” at the Nashville location.

Nashville Mills, an industrial fabrics manufacturer, has been a part of Berrien County since 1968 and is one of its largest employers, with more than 650 on its payroll.

According to Welborn, the change in ownership will not affect the day to day operations of the plant. “This is real positive for us. They’ve made it clear they are looking for growth opportunities; our business is strong and our outlook is strong. We’re excited about this.”

AFFC Holdings, Inc. is a newly formed company sponsored by an investor group comprised of The Sterling Group, L.P., Genstar Capital, L.P. and Laminar Direct Capital, L.P.

The transaction is expected to be finalized in the fourth quarter of 2004 and includes all assets of the BP subsidiaries.

Headquartered in Austell, Ga., BP’s Fabrics and Fibers subsidiary is a leading producer of synthetic fabrics throughout the world. It is the world’s number one producer of primary carpet backing and secondary carpet backing and also is a leading producer of synthetic fabrics for use in furniture, bedding, automotive, geotextile, and other industrial fabrics applications.

The company operates manufacturing facilities in five locations, including Nashville, in the southern United States, and internationally in Mexico, Germany, Hungary and Brazil. There are also distribution centers in California, Dalton, Ga. and Canada.

BP purchased Nashville Mills, which has seen several owners in its history, in 1999.



To contact Business Editor Kay Harris, please call 244-3400, ext. 280.