Hercules, Danaklon spin out fibers joint venture

Hercules and Danaklon Group have combined their fibers businesses into an as-yet-unnamed joint venture. Danaklon is a unit of Jacob Holm & Sons, a Danish holding company. According to John Montgomery, who will be president and chief executive officer of the new venture, "The new company will be the world's largest producer of fine-denier polypropylene staple fiber dedicated to serving the hygiene, industrial, automotive, and decorative fabric markets." Montgomery was appointed vice president and general manager of Hercules' fibers business in February 1997. The Hercules business going into the joint venture makes polypropylene fiber used in nonwoven fabrics for diapers and other hygienic products. It also makes polypropylene fibers for upholstery fabrics for household furnishings and automotive interior trim. Danaklon manufactures and markets specialized polypropylene and bicomponent fibers for the hygiene market. The combined businesses had 1996 sales of $300 million. In its 1996 annual report, Hercules ...