FRUIT OF THE LOOM ACQUIRES HOSIERY FACILITY IN WHITMIRE, S.C.
CHICAGO, March 8 /PRNewswire/ -- Fruit of the Loom, Inc. (AMEX: FTL), one of the world's leading manufacturers and marketers of basic family apparel, today announced the purchase of a hosiery facility in Whitmire, S.C. The facility, formerly owned by Mt. Vernon, is located in Newberry county, near Clinton, S.C. Fruit of the Loom will make an initial investment of $20 million in the facility and new equipment with renovation beginning immediately. The 200,000-square-foot facility is located on a 24-acre site and will be equipped with "state-of-the-art" technology for spinning, knitting, dyeing, cloth finishing, sewing and packaging of hosiery. The company will begin hiring employees immediately for the commencement of operations in the second quarter of 1993, and foresees employment growing to approximately 500 people and an annual payroll in excess of $7 million within two years. "Fruit of the Loom is delighted to have its second facility in South Carolina," said William Farley, chairman and chief executive officer of Fruit of the Loom. "Demand for our entire product offering is very strong both here and overseas, and we are anxious to have this facility help satisfy some of this demand. Fruit of the Loom has a lot of momentum going for it and we are glad to have the wonderful people of South Carolina participate in Fruit of the Loom's continued success. One reason we returned to this great state was the quality and dedication of its work force and the continued progress the state has experienced under the leadership of Gov. Carroll Campbell," he added. "We've been a business partner with Fruit of the Loom since 1952 through its Lexington facility," Gov. Campbell said. He added, "I made a point of becoming personally involved in recruiting this industry for Newberry County. This investment will bring new growth to our rural economy, while enhancing South Carolina's reputation as one of the best business climates in the country." Fruit of the Loom currently employs 230 people in its Lexington, S.C., facility. Fruit of the Loom is a vertically integrated international manufacturer and marketer of quality activewear and casualwear for the imprinted and retail markets, men's and boys' underwear and women's and girls' underwear. The company employs approximately 32,000 people in over 50 locations worldwide. Principal brand names include FRUIT OF THE LOOM(R), BVD(R), SCREEN STARS(R) and MUSINGWEAR(TM). The company is also a leading manufacturer of infants' and toddlers' underwear and family socks, using the FRUIT OF THE LOOM(R) brand name. All Fruit of the Loom products are "unconditionally guaranteed." -0- 3/8/93 /CONTACT: Pamela L. Webber, 312-993-1815, or Mark A. Steinkrauss, both of Fruit of the Loom, 312-993-1889, or Tucker Eskew, press office - Office of Gov. Carroll Campbell, 803-734-9840/ (FTL)
CO: Fruit of the Loom, Inc. ST: South Carolina, Illinois IN: TEX SU: TNM
LD -- NY089 -- 8397 03/08/93 17:32 EST
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|Date:||Mar 8, 1993|
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