Meridian Specialty Yarn Group Purchases Kennetex Assets
According to Meridian, the acquisition of this business further strengthens its position as a major yarn supplier to the U.S. textile markets. The product line complements the various package-dyed and space-dyed yarns that are currently offered from the Valdese facility while broadening the offerings from the Ranlo facility. The company notes that by introducing many new design and development opportunities at both facilities, the acquisition will enhance its value as a supplier to the home furnishings, contract upholstery, narrow fabrics, hosiery, apparel, and other markets that it currently serves.
May 15, 2012