JPS Industries, Inc. Completes Acquisition of Hexcel Corp. Reinforcements Business

GREENVILLE, S.C., Aug. 6  /PRNewswire-FirstCall/ -- JPS Industries, Inc. (Pink Sheets: JPST.PK) announced today that it has successfully completed the acquisition of the assets comprising the Anderson, South Carolina and Statesville, North Carolina operations of Hexcel Reinforcements Corp., a wholly owned subsidiary of Hexcel Corporation.

Michael L. Fulbright, JPS's chairman, president and chief executive officer, stated, "When we announced this acquisition in late June, our message centered on the opportunity this would provide in terms of delivering significant value to our Company, our customers, and our shareholders.  We are even more confident in our initial assessment and are excited to begin this new chapter of JPS Industries.  We welcome our new employees to the JPS Composite Materials team and look forward to their participation and dedication to our commitment of realizing the full potential our future holds."

About JPS

JPS Industries, Inc. is a major U.S. manufacturer of extruded urethanes, polypropylenes and mechanically formed glass substrates for specialty industrial applications.  JPS specialty industrial products are used in a wide range of applications, including: printed electronic circuit boards; advanced composite materials; aerospace components; filtration and insulation products; surf boards; specialty construction substrates; high performance glass laminates for security and transportation applications; plasma display screens; athletic shoes; 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 manufacturing locations in Anderson, South Carolina; Slater, South Carolina; Westfield, North Carolina; Statesville, 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]

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