Asheboro, N.C.-based AEC Narrow Fabrics (AEC) reports it has finalized the purchase of Greensboro, N.C.-based International Textile Group’s Narricot Industries business unit. Included in the sale are the Narricot plants in Boykins, Va., and Murfreesboro, N.C.; equipment and inventories at those locations; and all Narricot products and certain intellectual properties.
The Narricot plants will continue to manufacture Narricot products, and Narricot employees now are employees of AEC.
“We are pleased to have Narricot join with AEC Narrow Fabrics and welcome its employees into the AEC family,” said Larry Himes, CEO, AEC Narrow Fabrics. “Narricot’s strengths in the military, automotive, fire and safety, fall protection, and industrial markets complement AEC’s work in these markets and our products for the apparel, medical, bedding and home furnishings industry. We believe the combination of these companies will serve to strengthen both as we leverage our technologies, product expertise and production capabilities across a more diverse range of markets and end uses.”