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Sattler AG To Acquire Outdura From Shuford Mills

Sattler AG, an Austria-based, family-owned performance textile manufacturer, has announced plans to acquire the Outdura ® brand from Hickory, N.C.-based Shuford Mills LLC for an undisclosed price, with completion of the transaction expected Dec. 31, 2010. Included in the deal are Shuford Mills' manufacturing operation and distribution center, both located in Hudson, N.C.

Sattler plans to invest $4.56 million in the operation, which will be renamed Outdura Corp., and will retain Shuford Mills' current 60 employees while expanding the operation's facility and manufacturing systems, and adding 12 or more positions over the next three years.

Shuford Mills was established in 1880 by Abel Shuford and has remained a family-owned enterprise through five generations. Outdura, the company's sole product line, comprises a line of solution-dyed acrylic canvas fabrics for outdoor furniture, marine and awning applications.

"We feel this planned acquisition will support the growth of two great brands — Sattler and Outdura," said Herbert Pfeilstecher, CEO, Sattler. "We are extremely excited about the growth potential of Sattler and Outdura across the US and worldwide. Outdura complements our portfolio perfectly: We increase market shares with regards to outdoor casual furniture and boat-covers and it will enable us to advance sales of our Austrian manufactured awning fabrics. North America will, therefore, become one of the most important markets in this area."

"We are moving from one great family (the Shufords) to another (Sattler)," said C.P. Davis, CEO, Outdura. "Our core values align and we share strong and unmatched passion for serving our customers with high quality fabrics. Like Shuford Mills, Sattler is a multi-generation family company with a commitment to its employees and to the communities in which it operates."

The Sattler Group, established in 1875 by August Sattler, currently has approximately 540 employees globally and annually produces more than 20 million square meters of fabric including membrane solutions for roofing and other architectural applications, biogas storage, stench traps and other industrial applications; sun-protective fabrics for tents and awnings, boat covers, anti-glare and other applications; and technical textiles for truck tarpaulins, large-scale advertising, tents, and hall and booth applications. Its headquarters and two other manufacturing operations are located in Austria; and another, for its Ceno Tec textile architecture subsidiary, is in Germany.

December 7, 2010

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