Press Release

CARE Names Los Angeles Fiber Co. Recycler of the Year

Contact: Robert Peoples, Carpet America Recovery Effort (706) 428-2115

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Ron Greitzer accepts the CARE Recycler of the Year award from Bob Peoples of Solutia.

SANDESTIN, Fla. (April 23, 2003) – L.A. Fiber Co., the largest recycler of post-consumer carpet in North America, was honored today at the First Annual Carpet America Recovery Effort (CARE) meeting as the organization’s Recycler of the Year.

Los Angeles Fiber Co. accepts post consumer carpet and recycles it into synthetic carpet cushion and other thermoplastic products. Currently, L.A. Fiber is recycling carpet from four different states and recycles over seven million pounds of carpet a month. The company was established in 1983 by Stan and Ron Greitzer and quickly became the largest recycler of carpet and textile materials on the West Coast. In order to put L.A. Fiber achievements into perspective, consider that if the Pasadena Rose Bowl was a landfill, L.A. Fiber diverts enough material annually to fill it three times. The company’s vision is “Saving our planet, one square yard at a time.”

“It is truly an honor and a pleasure to recognize L.A. Fiber for their distinguished work and effort in the arena of recycling post-consumer carpet. It is just the sort of innovative thinking and concept which L.A. Fiber brings to the table that will ultimately play a large role in helping CARE forge ahead in meeting the goal of 40 percent landfill diversion of post-consumer carpet by 2012,” said Frank Hurd, CARE’s chairman of the board, in making the announcement.

“(L.A. Fiber president) Ron Greitzer and his entire company are to be commended for their outstanding work. L.A. Fiber is exactly the prototypical model of what we envision when we talk about diverting carpet from landfills by fostering market-based solutions for recovering value from discarded carpet. I can’t think of a more deserving honoree to accept our first annual Recycler of the Year award,” Mr. Hurd said.

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Ron Greitzer

Mr. Greitzer was moved by the honor and the standing ovation he received upon being named the winner.

“It is a great honor to be recognized by our peers as the first recipient of this award. Our goal is to continue to strive to make a difference. We need the retailer and the consumers to join us in our efforts to find homes for the recycled products made from post consumer carpet. CARE’s goal of 40 percent diversion will be reached if all of us continue to work together,” Mr. Greitzer said.