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National Textiles Announces Ownership Change

National Textiles Announces Ownership ChangeA group from the management team of National Textiles, LLC has acquired a majority interest in the company. The new ownership group is led by Jerry Rowland, president and CEO, and Keith Huskins, chief administrative officer, and replaces financial investors.Headquartered in Winston-Salem, N.C., National Textiles is one of the nation's leading manufacturers of yarn and knit fabrics. The company has more than 4,000 employees in North Carolina, Virginia, Tennessee, South Carolina and Georgia. National Textiles became an independent company in 1997 after operating for more than a quarter of a century as part of Sara Lee Corporation and, before that, Hanes Corporation.In making the announcement, Rowland said," National Textiles is a young company with almost 45 years of experience. We provide yarn and knit fabrics to many of America's most successful brands. Our goal is to continue the success of the past while we strengthen the long-term viability and competitiveness of our company. We believe that having a talented management team who are also owners of the company will certainly give us an advantage."Press Release Courtesy of National Textiles LLC June 2003