National Spinning Acquires Glen Raven Yarn Facility

National Spinning AcquiresGlen Raven Yarn FacilityNational Spinning Co. Inc., Washington, N.C., has purchased the yarn manufacturing facility in Kinston, N.C., from Glen Raven Inc., Glen Raven, N.C. The sale includes the building and land of the Kinston operation, as well as the business associated with the facility.We are delighted to strengthen our relationship with Glen Raven, said Jim Chesnutt, president and CEO, National Spinning. The Kinston facility will be a welcome addition to our company as we continue to aggressively pursue the sales yarn business by offering our customers a wide array of high-quality products.With the sale, Glen Raven has left the sales yarn business. The company will continue to seek to expand its global fabric strategy, concentrating on fabrics for home furnishings and industrial and automotive markets.March 2002