Dan River Inc. Announces Plans to Sell Its Apparel Fabrics Division.DANVILLE Danville. 1 City (1990 pop. 33,828), seat of Vermilion co., E Ill., on the Vermilion River at the Ind. line; inc. 1839. It is a commercial and industrial center in a dairy, farm, and coal area. , Va. -- Dan River Inc. announced today that it plans to sell its Apparel Fabrics Division, allowing it to focus on its core Home Fashions business. The Company has retained Anderson Anderson, river, Canada Anderson, river, c.465 mi (750 km) long, rising in several lakes in N central Northwest Territories, Canada. It meanders north and west before receiving the Carnwath River and flowing north to Liverpool Bay, an arm of the Arctic LeNeave & Co. of Charlotte, N.C. to assist in identifying qualified purchasers. "Dan River has a strong heritage in apparel fabrics but our future is in the Home Fashions arena," said Barry Barry, Welsh Barri, town (1991 pop. 45,053) and port, Vale of Glamorgan, S Wales, on the Bristol Channel. Once a major coal-exporting port, its more diversified export products include cement, flour, and steel products. F. Shea, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "This move will allow us to dedicate ded·i·cate tr.v. ded·i·cat·ed, ded·i·cat·ing, ded·i·cates 1. To set apart for a deity or for religious purposes; consecrate. 2. all of our resources to our Home Fashions business in which we see better growth opportunities for the future. This past January we sold our Engineered Products Division as an operating entity. We are seeking the same outcome for our Apparel Fabrics Division." Jim Martin, President of the Apparel Fabrics Division, commented, "With our goal of joining forces with a new parent company that is primarily focused on the apparel business, the Division could reach its full potential which should be beneficial for the Division's employees and customers." Dan River plans to retain the new No Trace(TM) hunting apparel business, which will not be included in the sale. The Company expects to complete a transaction by the end of the year. For more information about the Division, potential purchasers should contact either Greg LeNeave or Reed Paden of Anderson LeNeave & Co. at 704/552-9212. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion