The manufacturing plant of NyloBoard, LLC, located at 14187 Industrial Park Blvd NE in Covington has ceased production and the company was put up for sale Monday.
According to a prepared statement by Doug Morse, NyloBoard’s president and chief operating officer, the company’s “venture capital owner has decided to no longer fund the business. The business, including all assets is for sale as an operating entity.”
Should a buyer not emerge quickly, all assets will be liquidated, the statement said.
"NyloBoard has been a longtime chamber member and a good corporate citizen in our community," said Ralph Staffins, Covington-Newton County Chamber of Commerce President. "This is bad news immediately as 35 full-time employees will be affected but it is our hope that we can successfully help both NyloBoard and their employees during this time of transition."
NyloBoard converts recycled carpet fiber into composite boards and sheathing for decks, porches and buildings. The environmentally-friendly products include NyloSheet, NyloDeck and NyloPorch and contain no wood or PVC.
According to the company nyloboard.com the product was developed after 2000 when equipment was designed to separate carpet fiber from its backing. The developers then partnered with Georgia Tech to find a way to use the fibers and create a replacement for plywood.
Morse said the notification of the closing was sent to the company’s customers this week.