Fibermarket Names Recycling President, Closes Financing Round

Fibermarket.com appointed Richard A. Venditti as President, Recycling Division. He brings more than 30 years of experience in the pulp and recovered fiber industry to fibermarket.com.

"Richard will enable fibermarket.com to bring bottom-line value to the forest products industry. He understands the supply-chain and the buyer-supplier-broker dynamics," said Michael Fenton, Chief Executive Officer and cofounder of fibermarket.com. "Richard's knowledge of secondary fiber helps to further enhance the functionality of our Fiber Management Marketplace, making it a system that is easy for recovered fiber mill buyers, suppliers and brokers to integrate into their daily operations."

Venditti, a veteran of Union Camp, will be responsible for the direction and management of fibermarket.com's Recycling Division. He has over 30 years of diversified experience in the paper industry in product development, business analysis, strategic planning, acquisitions and joint ventures within the secondary fiber industry.

"Fibermarket.com will enhance the way the industry conducts business," said Venditti. "The Fiber Management Marketplace will not only improve efficiencies in the procurement and selling of recovered fiber but also enhance relationships in the industry. I'm looking forward to bringing this state-of-the-art technology to my colleagues in the forest products industry."

The company also announced that it has closed its second round of financing, with J.P. Morgan Capital Corporation leading the round. Oracle Corporation, Charterhouse Group International, Inc. and existing investor NeoCarta Ventures also participated in the round. The strength of the investor group affirms the value that fibermarket.com is adding to the forest products industry and reinforces fibermarket.com’s position as the established market leader.