Home    Resource Store    Past Issues    Buyers' Guide    Career Center    Subscriptions    Advertising    E-Newsletter    Contact

Textile World Photo Galleries
September/October 2014 Sept/Oct 2014

View Issue  |

Subscribe Now  |

Events

IWTO Wool Round Table
12/01/2014 - 12/02/2014

Beltwide Cotton Conferences
01/05/2015 - 01/07/2015

SURFACES 2015 International Flooring Event
01/21/2015 - 01/23/2015
02/24/2014 - 02/24/2014

- more events -

- submit your event -

Printer Friendly
Full Site
Textile News

Milliken To Sell Automotive Fabrics Business To Management Group

Spartanburg-based Milliken & Company has signed a letter of intent to sell its Automotive Body Cloth division to a management group led by Dirk Pieper and Brian McSharry, with support from Greenville-based investment firm Azalea Capital LLC. The new company, to be called Autotex, will be based in South Carolina. An Azalea principal, Jim Micali, who formerly was president and chairman of Greenville-based Michelin North America Inc., will serve as chairman. The sale is expected to be complete July 10, 2009.

Milliken stated the sale is in line with its strategy to focus on other existing and emerging growth markets. Approximately 1,200 associates in the division's worldwide operation are impacted by the sale. Of those, more than 1,000 will transfer to Autotex.

Included in the sale are Gayley Plant, Marietta, S.C.; Abbeville Plant, Abbeville, S.C.; Cotton Blossom Plant, Spartanburg; Avalon Plant, Toccoa, Ga.; Autotex Plant, Brazil; and support operations in the United Kingdom, Japan and China. Sharon Plant near Abbeville will close, impacting 140 associates.

In other news, Milliken will terminate 80 management associates worldwide in other company businesses as a result of recent consolidations unrelated to the Automotive Body Cloth division sale.

May 26, 2009

Advertisement