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Knitting / Apparel

Globe Restructures, Sells Rubber Thread Division

Globe Manufacturing Corp., Fall River, Mass., has sold its Rubber Thread division to North America Rubber Thread, Fall River, as part of its effort to restructure and streamline operations. This move will allow Globe to focus on its core spandex business.

According to Globe, the sale is viewed as optimum for the industry and the local community. It will also allow for a continuity of supply to Globe’s client base and provide opportunities for employment for Globe’s latex production workers affected by the sale.

“We have deliberated at length on what I believe is a very conscientious transaction program that will serve the best interests of our customers, Globe’s employees and the local community,” said Bob Bailey, vice president, sales and marketing, Globe.

April 2000