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PILLOWTEX CORPORATION ACQUIRES TORFEACO INDUSTRIES LIMITED

 DALLAS, Dec. 1 /PRNewswire/ -- Pillowtex Corporation (NYSE: PTX) announced today that the company had completed the purchase of all of the voting stock of Torfeaco Industries Limited, located in Toronto, for approximately $4,500,000 in U.S. dollars. Torfeaco is a century-old producer of fashion and basic synthetic bedding products, with 1992 annual sales of $20,500,000 in U.S. dollars.
 "The fit between the two companies is excellent," remarked Charles M. Hansen Jr., Pillowtex CEO and chairman of the board. "Torfeaco has many years of experience in fashion bedding and will certainly enhance Pillowtex's own expertise in this growing area." In addition, Hansen continued, "The purchase of Torfeaco gives Pillowtex a manufacturing facility in Canada and increases its competitive advantage there in both synthetic and natural fill products."
 Pillowtex is the largest manufacturer of bed pillows, mattress pads and down comforters in the world, and designs, manufactures and markets a full line of related bedroom textile furnishings. The company operates a nationwide network of manufacturing and distribution facilities, servicing all major retailers in the United States, Canada, Mexico and other retailers overseas.
 -0- 12/1/93
 /CONTACT: Katharine Kenny, investor relations manager of Pillowtex Corporation, 214-333-3225, ext. 344/
 (PTX)


CO: Pillowtex Corporation; Torfeaco Industries Limited ST: Texas, Ontario IN: TEX SU: TNM

CK -- NY116 -- 9500 12/01/93 17:20 EST
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Publication:PR Newswire
Date:Dec 1, 1993
Words:224
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