Performance Fibers Appoints New COO

Manufacturer of polyester fibre for the tyre industry, Performance Fibers, has named Alexander J. Carnevale to the position of vice president/chief operating officer to manage business operations worldwide, and Marc Sicre to lead the company’s European business. Mr. Carnevale’s role is a newly created position, formed at a time when the company reports it is continuing to experience ‘aggressive growth’.

The addition of the COO position to the global leadership team will, the company states, strengthen Performance Fibers’ organisational structure, which is centred around strong regional businesses in Europe, North America and Asia, supported by global functions. Under the new structure, the leaders of each of the three regions will report to Carnevale and maintain the company’s strong regional focus, while Carnevale will be responsible for developing a cohesive global plan for the company.

“This new position will benefit our business and customers by better aligning Performance Fibers’ global footprint with customers’ growth, improving operations globally and executing a new global strategy and vision for our company,” said Performance Fibers’ president and CEO Greg Rogowski.

Marc Sicre will succeed Carnevale as vice president and managing director, Europe. “These appointments will strengthen our organisational structure by putting long-time employees with global experience in positions where they can lead our company to continued growth,” continued Rogowski. “This is particularly crucial as our business becomes larger and more complex through growth and acquisitions.”

In December 2007 Performance Fibers signed a deal to acquire the North American tyre cord and polyester industrial filament businesses of INVISTA, and this transaction is expected to close in the first quarter of 2008. The deal is the latest in a series of acquisitions and investments made by Performance Fibers under the ownership of Sun Capital Partners.