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DOMINION TEXTILE TO CONSIDER ALTERNATIVES FOR YARN OPERATIONS

 DOMINION TEXTILE TO CONSIDER ALTERNATIVES FOR YARN OPERATIONS
 MONTREAL, April 8 /PRNewswire/ -- Dominion Textile today (Montreal and Toronto Stock Exchanges: MTX) announced that it has retained Goldman, Sachs & Co. of New York to explore a variety of options for the Dominion Yarn Group, the Corporation's North American yearn operations. The options being considered include the sale, merger, an initial public offering or retention of the business.
 The Dominion Yarn Group, with a strong North American market position, has annual sales of approximately US$275 million. It is a major Canadian and U.S. supplier of commodity and specialty yarns whose end-use markets include knitted and woven apparel fabrics, activewear, outerwear, underwear, hosiery, home furnishings and industrial products. With seven plants in Canada (six spinning plants and one package dyehouse) and four in the U.S., the Yarn Group employs approximately 2000 people.
 "Our intention to evaluate alternatives with regard to the Dominion Yarn Group is in line with our previously stated objectives to substantially reduce our debt," said Charles H. Hantho, chairman, president and chief executive officer. "This decision does not in any way reflect on the success of the Dominion Yarn Group employees in building a dynamic and exciting business."
 The excellent level of service to all Dominion Yarn Group's customers will be maintained through the evaluation period.
 Dominion Textile, with corporate headquarters located in Montreal, is a major international manufacturer of textile and textile-related products which conducts business in some 50 countries.
 -0- 4/8/92
 /CONTACT: Lise Charron of Dominion Textile, 514-989-6468/
 (DTX.) CO: Dominion Textile Inc. ST: Quebec IN: TEX SU:


TS -- NY031 -- 6134 04/08/92 10:11 EDT
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Publication:PR Newswire
Date:Apr 8, 1992
Words:274
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