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SPRINGS INDUSTRIES' SUBSIDIARY ACQUIRES MINORITY OWNERSHIP INTEREST IN AND A CONVERTIBLE NOTE OF INTERGLAS A.G. OF ULM, GERMANY

 FORT MILL, S.C., March 25 /PRNewsiwre/ -- Springs Industries' (NYSE: SMI) Clark-Schwebel Fiber Glass subsidiary has acquired a minority ownership interest in and a convertible note of Interglas A.G. of Ulm, Germany in exchange for cash and Clark-Schwebel's subsidiaries in Belgium and the United Kingdom. Additionally, Interglas' name has been changed to CS-Interglas A.G.
 Springs announced the closing of the transaction in Ulm today. Interglas shareholders approved the agreement at their annual meeting Feb. 26.
 Both Clark-Schwebel and Interglas are producers of fiber glass fabric for use in electronics, composites and other markets. Springs Industries is a producer of home furnishings and specialty fabrics with sales of $2 billion and headquarters in Fort Mill, S.C.
 -0- 3/25/93
 /CONTACT: Robert E. Slough, Director of Public Relations, Springs Industries, Inc., 803-547-3738 or (home) 803-366-6646/
 (SMI)


CO: Springs Industries; Clark-Schwebel Fiber Glass; Interglas A.G. ST: South Carolina IN: TEX SU: TNM

CM -- CH004 -- 9649 03/25/93 14:11 EST
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Publication:PR Newswire
Date:Mar 25, 1993
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