JPS Announces Sale of Stevens(R) Roofing and Geomembrane Business Unit

GREENVILLE, S.C., June 11  /PRNewswire-FirstCall/ -- JPS Industries, Inc. (JPST.PK) announced today that it has reached an agreement to sell its Stevens(R) Roofing and Geomembrane business unit and related assets to Dow Building Solutions (DBS), a market-facing unit of The Dow Chemical Company. The transaction is expected to close within the next 30 days.  Financial terms and conditions were not disclosed.  The transaction does not involve the Company's other operating units, JPS Composite Materials Corp. and Stevens(R) Urethane.

JPS Industries, Inc. is a major U.S. manufacturer of extruded urethanes, polypropylenes and mechanically formed glass and aramid substrate materials for specialty applications in a wide expanse of markets requiring highly engineered components.  JPS's products are used in a wide range of applications, including: printed electronic circuit boards; advanced composite materials; civilian and military aerospace components; filtration and insulation products; specialty commercial construction substrates; high performance glass laminates for security and transportation applications; photovoltaic solar modules; paint protection films; plasma display screens; commercial and institutional roofing; reservoir covers; medical, automotive and industrial components; and soft body armor for civilian and military applications.  Headquartered in Greenville, South Carolina, the Company operates five manufacturing locations in Anderson and Slater, South Carolina; Statesville and Westfield, North Carolina; and Easthampton, Massachusetts.

CONTACT:  Charles R. Tutterow 

        Executive Vice President
        and Chief Financial Officer
        864/239-3915


DATASOURCE: JPS Industries, Inc.



CONTACT:  Charles R. Tutterow, Executive Vice President and Chief

Financial Officer of JPS Industries, Inc., [phone]

Copyright