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A And E Partners With Veken In China

A and E Partners With Veken In ChinaSewing thread manufacturer AmericanandEfird Inc. (A and E), Mount Holly, N.C., a subsidiary of Charlotte-based Ruddick Corp., and China-based Ningbo Veken Elite Group Co. Ltd. (Veken) have formed a strategic joint venture for the manufacture, distribution and sales of sewing thread for Chinese and export industrial and consumer markets.A manufacturer of sewing thread, home textiles, knitwear and apparel fabrics, Veken has dedicated its entire sewing thread operation to the 50/50 joint venture, which will be called Huamei Thread Co. Ltd. and will be headquartered near Shanghai. The joint venture will leverage the strengths of both companies to expand thread sales in Chinas rapidly growing sewn products market, as well as continue to develop the current export business, said Thomas W. Dickson, president, Ruddick. This joint venture complements A and Es existing operations in China, Hong Kong and Malaysia.A and E recently completed a new dyeing and finishing facility in Guangdong province, China. July 2003