ALBA-WALDENSIAN CANCELS PLANS TO ACQUIRE SEW SIMPLE SYSTEMS, INC.
ALBA-WALDENSIAN CANCELS PLANS TO ACQUIRE SEW SIMPLE SYSTEMS, INC. VALDESE, N.C., June 4 /PRNewswire/ -- Alba-Waldensian, Inc. (AMEX: AWS) has announced that it is no longer considering the acquisition of textile equipment manufacturer Sew Simple Systems, Inc. Alba, a major manufacturer of knit products, had been considering the purchase of Sew Simple from an affiliate of Hickory Furniture Company. On April 1, 1992 however, Hickory Furniture informed Alba-Waldensian that it was terminating discussions concerning the sale of Sew Simple, and the negotiations ended. Alba-Waldensian manufactures and markets medical specialty products, and women's hosiery and intimate apparel. According to Thomas F. Schuster, Chief Operating Officer, "All of Alba's businesses are extremely healthy and we continue to be interestd in appropriate acquisitions for both our Health Care Division and Consumer Products Division." The company employs approximately 800 employees in five locations in Valdese, N.C. -0- 6/3/92 /CONTACT: Van C. Irwin, Alba-Waldensian, Inc., 704-879-6503/ (AWS) CO: Alba-Waldensian, Inc.; Sew Simple Systems, Inc.; Hickory Furniture Company ST: North Carolina IN: TEX SU: TNM
CM -- CH005 -- 6719 06/03/92 16:18 EDT
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|Date:||Jun 3, 1992|
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