C&A Floorcoverings division acquired by investment group.The floorcoverings division of textile manufacturer Collins & Aikman, Charlotte, NC, was sold recently to a group sponsored by Quad-C, a merchant banking firm based in Virginia Virginia, state, United States Virginia, state of the south-central United States. It is bordered by the Atlantic Ocean (E), North Carolina and Tennessee (S), Kentucky and West Virginia (W), and Maryland and the District of Columbia (N and NE). , and Paribas Principal Partners, the U.S. private equity unit of the French holding company Group Paribas. The purchase price of $195.6 million is subject to final balance sheet adjustments and includes the use of the name Collins & Aikman. Parent company Collins & Aikman had announced last July that it would consider selling its floorcoverings division to concentrate on the automotive interiors markets. The acquisition was completed in February. In the past year, Collins & Aikman had expanded its influence in the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. through the acquisition of the JPS JPS Jewish Publication Society JPS John Peter Smith (Hospital; Texas) JPS Justice & Public Safety JPS Jean Piaget Society JPS Juvenile Polyposis Syndrome JPS Joint Planning Staff Automotive division of Foamex International and the recent acquisition of the Swedish company Perstorp's automotive supply and related operations in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Britain and Spain. The divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). of the floorcoverings unit, which was a leading producer of vinyl-backed roll goods and tiles for the specified contract market, will allow C&A to focus more of its concentration on the automotive interiors business. |
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