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Globe Signs Purchase And Sale Agreement

Globe Signs Purchase And Sale Agreement Radici Spandex Corp., a subsidiary of Italy-based Radici Group, has entered into a purchase and sale agreement for the assets of Globe Manufacturing, Fall River, Mass. Terms of the agreement have not been disclosed.Globe said that Radici Spandex Corp. intends to continue Globes operations after the sale and is interested in maintaining good relationships with customers and vendors.Richard Heitmiller, CEO, Globe, said We are extremely pleased with this purchase and sale agreement. Partnering with Radici Group provides an opportunity to create incredible synergies within existing markets, as well as to gain entry into new global ones and allow Globes business to continue to grow with its customers and maintain its position as a leading producer of spandex fiber. March 2001