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CROWNAMERICA COMPLETES PLANT SALE

 ATLANTA, Feb. 9 /PRNewswire/ -- CrownAmerica, a leading supplier of processed filament yarns for the carpet industry, has completed the sale of its Dalton, Ga. Texture-Tex plant to Aladdin Mills, Inc.
 George Hamilton, CrownAmerica's vice president of operations, said the sale included land, building and a majority of machinery and equipment of the company's Texture-Tex plant. He said CrownAmerica will realize approximately $6 million from the sale after payment of taxes and capital expenditures for relocation.
 "We are extremely pleased with the manner in which this transaction has been completed," Hamilton said. "We have worked closely with Aladdin to create a smooth transition period that will allow us to relocate a portion of unsold equipment to another CrownAmerica plant in Dalton. Arrangements have been made with Aladdin during this transition to continue serving our customers without interruption."
 Hamilton said the company will complete installation of existing equipment by early May at one of the original plants of Crown Cotton Mills. "This facility has been remarkably maintained and has the heating and air conditioning systems necessary for our filament yarn processing operation," Hamilton continued. "We have purchased additional air entanglement equipment for this plant and will be expanding our production schedule later this spring. These changes will enable us to offer an expanded product line while realizing improved operating efficiencies," he added.
 Hamilton said CrownAmerica's board of directors is reviewing options available for use of the proceeds from the sale. "We will continue to keep shareholders apprised of any action on the part of the board," Hamilton added.
 CrownAmerica, through its Texture-Tex subsidiaries, has for a number of years been a leading supplier of processed filament yarns for the carpet and allied industries. CrownAmerica also operates a Texture-Tex subsidiary near Heerlen in the Netherlands.
 -0- 2/9/93
 /CONTACT: George Hamilton of CrownAmerica, 706-278-1422/


CO: CrownAmerica, Inc.; Aladdin Mills, Inc. ST: Georgia IN: TEX SU: TNM

RA-BR -- AT014 -- 4798 02/09/93 15:52 EST
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Publication:PR Newswire
Date:Feb 9, 1993
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