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Textile News

Assets Of Unifi Technical Fabrics To Be Acquired By Avgol Nonwovens
GREENSBORO, N.C. -- Unifi, Inc. (NYSE: UFI) announced that it has reached an agreement in principle to sell the assets ofits wholly owned subsidiary Unifi Technical Fabrics, LLC, to Avgol NonwovensIndustries of Holon, Israel. The agreement, which includes Avgol taking possession of Unifi TechnicalFabrics' (UTF) 125-acre site in Mocksville, N.C., is part of Unifi's ongoingeffort to focus more closely on its core business as a global leader in theproduction of synthetic fiber and yarns. "While we appreciate the long term growth potential of the nonwovensbusiness, the next phase of the UTF growth plan called for significantadditional capital investment," said Billy Moore, chief financial officer ofUnifi. "We felt that at present, our company and shareholders would best beserved by focusing our capital resources on our core businesses and using theproceeds from this sale to reduce debt." "This is a &#
May 1, 2001

Factoring On-line And Off
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May 1, 2001

Rieter To Acquire Textile Machinery Activities Of Suessen
May 1, 2001

Spartan International Closes Mills
Spartanburg, S.C.-based Spartan International closed suddenly May 4, leaving 1,200 workers in six plants and the corporate offices without jobs.After defaults on financial agreements, assets of the company were seized by General Electric Corp., Fairfield, Conn. The management of the company made the decision to offer us peaceful possession of the assets, the collateral behind the loan, said John Oliver, spokesperson for General Electric, Stamford, Conn.Spartan had been a customer of General Electric since June 1999 but had trouble as early as December 1999, Oliver said.The six mills affected were the Spartanburg plant; the Rosemont plant, Jonesville, S.C.; the Jefferson plant, Jefferson, Ga.; the Cleveland-CaroKnits Lawndale plant, Lawndale, N.C.; the King Finishing plant, Statesboro, Ga.; and J.P. King Manufacturing, Augusta, Ga.Spartan President Barry Leonard said,
May 1, 2001

Brilliant Ideas
Rachael S. Dunn,Managing Editor
May 1, 2001

ATME-I 2001 Final Attendance Figures
GREENVILLE, SC (USA) The total attendance at the American Textile Machinery Exhibition-International 2001 (ATME-I 2001) was 15,046, including 3,669 booth personnel and 103 members of the media.From outside the United States, the exhibition attracted 1,240 visitors from 55 countries. The exhibition also attracted 10,034 U.S. visitors from 40 states and the District of Columbia and Puerto Rico.Number of visitors from each country present at ATME-I 2001Antigua 1 Argentina 24Australia 2Austria 3Bangladesh 34Belgium 3Bolivia 3 Brazil 54Canada 256
May 1, 2001

Pillowtex To Close Consolidate Some Operations
KANNAPOLIS, N.C.-- Citing the continuing decline inmarket conditions and as part of its restructuring under Chapter 11bankruptcy, Pillowtex Corporation (OTC: Bulletin Board: PTEXQ) announced todaythat it will close a sheet manufacturing plant in Kannapolis and a towel yarnmanufacturing operation in Columbus, Ga. In addition, the Company plans toscale back towel production in Kannapolis. The restructuring eliminates the jobs of approximately 590 employees inKannapolis and approximately 190 employees in Columbus. The Company begannotifying affected employees on Tuesday. "We regret that economic conditions beyond our immediate control haveforced the difficult decision to close or scale back these operations and aresensitive to the personal impact it will have on our employees, their familiesand the surrounding communities," said Bob Haase, Pillowtex's executivedirector for operations. "However, we must ensure the future viabilit
May 1, 2001

Full Steam Ahead
May 1, 2001

Growing A Company
Peggy Whales
May 1, 2001

Thomaston Mills Moves Sales Marketing
May 1, 2001