Sara Lee Branded Apparel Acquires National Textiles, L.L.C., DFK Trading Corporation Ltd.WINSTON-SALEM, N.C. -- Sara Lee
Sara Lee Corporation (NYSE: SLE) is a global consumer-goods company based in Downers Grove, Illinois, USA. Branded Apparel announced today that it has acquired National Textiles, L.L.C., a yarn yarn, fibers or filaments formed into a continuous strand for use in weaving textiles or for the manufacture of thread. A staple fiber, such as cotton, linen, or wool, is made into yarn by carding, combing (for fine, long staples only), drawing out into roving, then and textile production company based in Winston-Salem, N.C. The company also said that it recently acquired DFK DFK Direct Free Kick (Soccer) DFK Deep French Kiss DFK Daifuku DFK Dark Forces Knights Trading Corporation Ltd., an Asian sourcing company. Both transactions are part of the company's long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. strategies to ensure a highly effective global supply chain. Terms of the transactions were not disclosed. "As global trade dynamics continue to evolve, control of textile resources is a competitive advantage for large apparel companies," said Gerald Evans, Sara Lee Branded Apparel's chief supply chain officer. "These acquisitions are good investments for Sara Lee Branded Apparel. We were principal customers of both companies and bringing their capacity in-house will greatly increase our efficiency and speed-to-market in highly competitive apparel categories." With vertical yarn-to-textile operations, National Textiles is a major supplier of open-end and ring-spun cotton as well as blended yarns and finished tubular tubular /tu·bu·lar/ (too´bu-lar) 1. shaped like a tube. 2. of or pertaining to a tubule. tubular 1. pertaining to renal tubules. 2. pertaining to fallopian tube. fabrics. National Textiles has plants in Rabun Gap, Ga.; Mountain City, Tenn.; Galax galax: see diapensia. , Va.; and Forest City, Gastonia, China Grove, Sanford and Eden, N.C. Distribution and warehousing is located in Advance, N.C. The company employs approximately 2,900 people. Separately, newly acquired DFK Trading Corporation Ltd. will operate as DFK International Limited, a wholly-owned subsidiary of Sara Lee Branded Apparel. Based in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , DFK will source raw materials in the emerging Asian market. Sara Lee Branded Apparel is currently a part of Sara Lee Corporation, which in February 2005 announced a transformation of its business portfolio to focus on food, beverage and household and body care. At that time, Sara Lee announced its intent to spin off as an independent, publicly held company its Americas/Asia apparel business, Sara Lee Branded Apparel, a move that is expected to be completed between July and September 2006. |
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