LOS ANGELES, Wednesday, September 22nd 2010 [ME NewsWire]:
(BUSINESS WIRE)-- The Gores Group, LLC today announced that Michael W. Entz has been named Chief Executive Officer of Cosmo Specialty Fibers, Inc., which was formed as part of its acquisition of the Cosmopolis high purity cellulose mill from Weyerhaeuser Company. Mr. Entz will be responsible for overseeing the complete refurbishment and restart of the Cosmopolis, Washington based mill, which has been closed since 2005.
“We are delighted to welcome Michael Entz to the company and are fortunate to have him leading Cosmo Specialty Fibers,” said Timothy Meyer, Managing Director of The Gores Group. “Over the course of his career, he has proven himself to be a strong leader with a talent for building great teams and achieving full operating potential in his mills. Under his guidance, we will provide our customers with the highest level of quality, service and professionalism while creating new jobs in the Cosmopolis area.”
Mr. Entz stated, “This is a great opportunity to restart a terrific mill. I look forward to getting to work, hiring new team members and starting production as soon as possible. The Cosmopolis mill has the potential to produce very high quality products and I am very excited to be a part of its renewed success.”
Dermot Smurfit, Chairman of the Board of Cosmo Specialty Fibers, and a paper and packaging industry veteran, added, “Michael Entz has over 20 years of experience in complex operating environments in the pulp and paper industry. He will be an outstanding leader for Cosmo Specialty Fibers.”
Mr. Entz worked most recently at NewPage Corporation in Escanaba, Michigan, where he oversaw operations for NewPage’s largest coated paper manufacturing facility. He previously held management positions at Smurfit-Stone Container Corporation and West Point Pepperell.
About The Gores Group, LLC
The Gores Group, LLC is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, LLC, which was founded in 1987 by Alec E. Gores, has become a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. The firm's current private equity fund has committed equity capital of $2.9 billion. Headquartered in Los Angeles, The Gores Group, LLC maintains offices in Boulder, CO, and London. For more information, please visit www.gores.com.
For media enquiries, please contact:
For The Gores Group, LLC
Frank Stefanik
(310) 209-3010
Terry Fahn
Sitrick And Company
(310) 788-2850
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