Mount Vernon Mills, Mauldin, S.C., has announced plans to purchase a yarn spinning and weaving facility in Rockingham, N.C., from Wade Manufacturing Co., Wadesboro, N.C. No other Wade Manufacturing assets are part of the deal. Mount Vernon Mills will retain substantially all of the Rockingham facility’s employees, possibly adding new jobs in the future. Financial terms were not disclosed, and the transaction is expected to close in early February.
To begin with, the business will manufacture open-end spun yarns and woven greige goods for Mount Vernon Mills’ flame resistant products.
“The Rockingham facility is a modern,cost-efficient operation with an experienced and stable workforce, making it a great fit as we increase the amount of control that we have over our yarn supply, weaving operations and overall costs,” said Bill Duncan, CEO, Mount Vernon Mills. “We are also proud to expand our footprint in the U.S. and build upon our made in America commitment and heritage.