American company Stein Fibers acquires Banyan Plastics

01 Jun '24

2 min read

American company Stein Fibers acquires Banyan Plastics

Pic: Stein Fibers

Insights

Stein Fibers has acquired Banyan Plastics to bolster its presence in the sustainable polymers market and enhance distribution services for PET manufacturers worldwide.
The merger aims to offer comprehensive sustainability solutions to a diverse customer base.
This strategic move underscores Stein Fibers' commitment to advancing eco-friendly practices.

Stein Fibers, a leading global supplier of sustainable fibre and polymer solutions, has acquired Banyan Plastics, a renowned distributor of recycled materials. The acquisition will accelerate Stein’s growth strategy in the sustainable polymers market, while providing desired distribution services to the most strategic PET manufacturers around the globe. This acquisition will further Stein’s ability to enable sustainability solutions to a diverse customer base throughout multiple end use markets.

"We are excited to onboard the team from Banyan Plastics," said Jaren Edwards, president of Stein Fibers. "Together, we are better equipped to help our customers meet their published sustainability goals within the recycled plastics marketplace. Even more important is the value and efficiency we provide to recycling facilities around the world. Our combined expertise and scale will provide solutions that have never been offered on a consistent basis to both our suppliers and customers.”

"We are thrilled about the opportunity to join the Stein Fibers organisation,” said Sloan Sherman, managing director at Banyan Plastics. "This partnership allows the Banyan team to focus on the commercial aspects of the business and enjoy the infrastructure already present at Stein for an improved customer experience.”

“After working with Sloan and the entire Banyan team for many years, we are excited for them to join our organisation,” said Robert Taylor, COO of Stein Fibers. “For years, Stein has focused our experience and expertise to bridge global supply chains and create value for both our supplier and customer partners. This value allows both to concentrate on their manufacturing excellence and operational efficiencies without the added logistical challenges that persist globally. We look forward to working with the entire Banyan team to incorporate many of these same benefits for their customers and suppliers as well.”

Fibre2Fashion News Desk (RR)