CINCINNATI — June 24, 2021— Standard Textile Co. Inc. and Küçükçalık today announce they have entered into a joint venture agreement. The joint venture agreement brings together the specialized expertise and knowledge of two textile manufacturing companies to expand their product portfolio and accelerate growth in the healthcare, hospitality, and consumer markets.
Küçükçalık is a global textile manufacturing company with key operations in Turkey and Egypt. From fiber production to weaving to finishing, the company produces apparel, bedding, drapery, and other decorative products for the consumer market. The company opened its first weaving mill in 1990 and added dyeing and printing factories in 1992. In 2019, Küçükçalık created a new sustainable yarn from discarded PET bottles using advanced spinning technology. The company is listed among the top 500 companies in the Turkish industrial sector.
“We are pleased to announce this new joint venture for Standard Textile,” stated Gary Heiman, president and CEO, Standard Textile. “We have admired Küçükçalık’s world class facilities in Turkey and Egypt, and this joint venture allows us to both expand our global footprint and leverage their technology and expertise in fiber extrusion. Their innovative fiber extrusion and texturizing operations provide new opportunities for our research and development teams to collaborate in designing and developing sustainable products using recycled fiber to meet the needs of current and future customers.”
Standard Textile manufactures bed, bath, and decorative products, serving the healthcare, hospitality, and consumer markets. It has manufacturing operations in North America, Europe, Asia, and the Middle East. The company received recognition in 2016 for creating a model for advanced textile manufacturing in the United States with their operations in Thomaston, Ga., and Union, S.C., headlined in major news publications.
Earlier this year, Standard Textile was credited with the “Best Health Care and Medical Innovation” by Ohio Business Magazine for developing a uniquely American-made reusable cover gown to help protect frontline medical workers responding to the global pandemic; and most recently, the company was selected as a 2021 US Best Managed Company. Sponsored by Deloitte Private and The Wall Street Journal, the program recognizes outstanding U.S. private companies and the achievements of their management teams.
“We are very happy to be able to continue our long-lasting friendship and existing trading relationship with Standard Textile now as co-shareholders. We are confident that this partnership will add significant value to Küçükçalık by allowing us to expand in markets where Standard Textile is particularly strong,” said Yaşar and Yılmaz Küçükçalık, the shareholders of Küçükçalık.
Posted June 24, 2021
Source: Standard Textile