FRUIT OF THE LOOM ANNOUNCES ACQUISITION OF MAJOR MANUFACTURING FACILITY IN RABUN GAP, GA.
FRUIT OF THE LOOM ANNOUNCES ACQUISITION OF MAJOR MANUFACTURING FACILITY IN RABUN GAP, GA. CHICAGO, Sept. 25 /PRNewswire/ -- Fruit of the Loom, Inc. (AMEX: FTL), a leading global manufacturer and marketer of basic family apparel, announced today the company is purchasing its largest facility to date, a former Burlington Industries plant, in Rabun Gap, Ga. Fruit of the Loom will make an initial investment of $60 million in the facility and new equipment with renovation beginning immediately. The one-million-square-foot facility is located on a 283-acre site and will be equipped with "state of the art'' spinning, knitting, dyeing, and finishing technology. This new Fruit of the Loom facility is one of the first facilities in the world to process raw material through finished fabric under one roof. The company will begin hiring employees on Sept. 28 for the commencement of operations in the first quarter of 1993, and foresees employment growing to 1,000 people and a payroll in excess of $15 million within two years. "Fruit of the Loom is delighted to become Georgia's newest corporate citizen," 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 contribute to satisfy some of this demand. Fruit of the Loom is on a roll and we glad to have the people of Georgia participate in Fruit of the Loom's continued success. One reason we came to this great state was the quality of its work force and the leadership the state has experienced under the governorship of Zell Miller," he added. Gov. Miller said, "Fruit of the Loom will have a tremendous economic impact on Rabun County and the entire northeast section of the state. We are pleased to have a leadership company of this stature as a new citizen of Georgia." Bill Farley and Gov. Miller were joined at the announcement at the plant site by John B. Holland, president and chief operating officer- Fruit of the Loom; Johnny Ramey, Rabun County commissioner; Larry Gillespie, mayor of Clayton; Randy Cardoza, commissioner GDITT; Bill Dahlberg, president and chief executive officer - Georgia Power Company; Albert Green, chairman, and Randy Dilliot, executive director, Rabun County Economic Development Authority; and Winston Russell, plant manager - Burlington Industries. Fruit of the Loom is a leading manufacturer and marketer of basic family apparel including activewear and casualwear for the retail and imprinted market, men's and boys' underwear and women's and girl's underwear. The company employs over 30,000 people in over 40 locations worldwide. Principal brand names include FRUIT OF THE LOOM(R), BVD(R), SCREEN STARS(R) and MUNSINGWEAR(TM). The company is also a leading manufacturer of infants' and toddlers' underwear and family socks, using the FRUIT OF THE LOOM brand name. FACT SHEET FRUIT OF THE LOOM/RABUN GAP, GA., PLANT ANNOUNCEMENT -- Fruit of the Loom will immediately begin renovation of the former Burlington Industries residential carpet facility in Rabun Gap. The company will invest $60 million in the facility and new equipment. -- Operations will commence in the first quarter of 1993. -- The facility, Fruit of the Loom's largest facility to date, is over one million square feet in size and located on a 283-acre site. -- The facility will be equipped with "state-of-the-art" spinning, knitting, dyeing and finishing technology. -- Fruit of the Loom will begin hiring employees on Sept. 28 and expects to build the work force to approximately 1,000 during the next two years. (Information regarding hiring procedures attached) -- Fruit of the Loom currently has 40 manufacturing and distribution facilities in the United States, Mexico, Canada and Europe, employing over 30,000 people. -- Fruit of the Loom product lines by percent of sales through June 30, 1992: 48.3 percent activewear, 37.7 percent underwear and 14.1 percent international. -- Fruit of the Loom was acquired by Farley, Inc. in 1985. -0- 9/25/92 /CONTACT: Mark A. Steinkrauss, 312-993-1757, Pamela L. Webber, 312-993-1815, both for Fruit of the Loom; or Deborah Dobbs, 404-656-5989, of Georgia Department of Industry, Trade & Tourism/ (FTL) CO: Fruit of the Loom, Inc. ST: Illinois, Georgia IN: TEX SU: TNM
SH -- NY051 -- 3595 09/25/92 15:40 EDT
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|Date:||Sep 25, 1992|
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