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Valdese Weavers To Expand In North Carolina

Valdese, N.C.-based upholstery fabrics manufacturer Valdese Weavers LLC will expand manufacturing facilities with the purchase of a third plant that will add 198,000 square feet to its overall operation in Valdese. The company will invest $19.3 million in the new facility over the next three years and plans to add 61 positions to its workforce, which currently numbers some 621 associates.

Valdese currently houses its headquarters, design center and primary weaving operation in one 275,000-square-foot plant; and will convert a 125,000-square-foot plant built in 1996 to primary yarn preparation. The newest plant, which is expected to be fully operational by January 2008, will include the company’s finishing operations and Valdese International Products (VIP) brand activities.

“Valdese Weavers is extremely gratified to be in this position to expand our operations and add jobs in North Carolina, said Michael Shelton, president and CEO. “After a very deliberate evaluation of opportunities to either expand globally or to other areas domestically, we have chosen to make this commitment to grow our business in Valdese, where we have a 72-year heritage.

“Valdese Weavers is very fortunate in the current environment of globalization in the textile industry to have been able to consistently grow our business, and experience a 14-percent growth rate in 2006,” Shelton continued. “We are grateful to our customers who have recognized Valdese Weavers for the value that our products and services represent.”

Support for the company’s expansion includes a $130,000 One North Carolina Fund grant; plus additional support from Burke county, the Town of Valdese and the Burke Partnership for Economic Development. Additional support may come from possible tax credits as well as the State of North Carolina Economic Development Board and the Duke Energy Economic Rider.

March 20, 2007