USA: FTADirect Acquires FiberMatch
FTADirect ( www.ftadirect.com ), a leading business-to-business (B2B) marketplace for the fiber, textiles, and apparel industries, today announced the acquisition of FiberMatch LLC. 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.