GUILFORD MILLS ADDS WOVEN VELVET CAPABILITY
GUILFORD MILLS ADDS WOVEN VELVET CAPABILITY GREENSBORO, N.C., Nov. 13 /PRNewswire/ -- Charles A. Hayes, chairman
and C.E.O., announced today that Guilford Mills, Inc. (NYSE: GFD), in cooperation with Suminoe Textile of Osaka, Japan, will enter the woven velvet textile business.
The key markets will be automotive bodycloth, furniture upholstery, and van conversions. The equipment for the woven velvet business will be installed in the Automotive Business Operations Center in Kenansville, N.C., and will be phased in over the next two to three years. Hayes remarked, "We at Guilford are in a unique position because of our worldwide marketing presence to add woven velvets to our existing product lines. The woven velvet or moquette is considered to be the premier fabric for the automotive industry and it is time to become a full line supplier to the multi-national automotive companies." He remarked that woven velvet would be a "good fit" for the furniture upholstery and van conversion markets which are also serviced by Guilford Mills Automotive Business Unit. Guilford Mills is an international manufacturer of textile products for apparel and industrial applications with annual sales of $528 million. -0- 11/13/91 /CONTACT: David P. Reynolds of Guilford Mills, 919-296-0911/ (GFD) CO: Guilford Mills, Inc.; Suminoe Textile ST: North Carolina IN: TEX SU: GK-OS -- NY048 -- 3931 11/13/91 12:09 EST
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|Date:||Nov 13, 1991|
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