Indian Textile Firm Acquires Dan River
India-based soda ash and textiles producer Gujarat Heavy Chemicals Ltd. (GHCL) has acquired
90-percent ownership in Danville, Va.-based home textiles and apparel fabrics maker Dan River Inc.
Calvin Barnhardt, vice president, human relations, Dan River, declined to provide details of the transaction. However, he said, "We see a number of synergies that will allow Dan River to become more prominent in the US home textile market and also to expand into the global market."
"We are working with GHCL to develop a plan that will allow Dan River to answer our employees concerns over the possible impacts of this transaction," Barnhardt added.