USA: FTADirect Acquires FiberMatch
FTADirect, will consolidate all the assets and management team of FiberMatch, a B2B procurement site for the textiles industry.
"This deal is a win-win situation for both of our companies given the consolidating business environment for business-to-business startups," says Nick Hahn, chairman of FTADirect, formerly president and CEO of Cotton Inc. "With Alf Sherk joining us as president, this acquisition positions us to become a dominant player in the industry sectors we have chosen to focus on."
"This deal pools our collective resources and will enable us to deliver a more value-added solution to companies in the softgoods industries ahead of schedule," says Alf Sherk, chairman and CEO of FiberMatch.
Sherk previously founded e-Chemicals, a B2B marketplace for the chemicals industry now owned by Internet Capital Group. e-Chemicals was recently named among the top 10 of all B2B sites by AMR Research. Prior to founding e-Chemicals, Mr Sherk worked for 16 years at Dow Chemical Company in sales and marketing.
About FTA Direct
FTADirect is a leading online business-to-business marketplace for the fiber, textiles, and apparel industries. FTADirect's solution encompasses product sourcing and development, order tracking, financing, and logistics services. FTADirect has secured funding from a number of industry partners as well as financial investors. FTADirect is headquartered in New York's Empire State Building. Additional information about FTADirect and a description of the services offered can be found at www.ftadirect.com.
FiberMatch is a premier Internet raw material procurement site that is tailored to the textile industry. The FiberMatch site is a complete e-business market maker for textile raw materials (product catalog, order entry, shipment, track & trace and financial settlement).
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