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Springs Maybank Textile Finalize Transaction

Springs, Maybank Textile Finalize Transaction Springs Industries Inc., Fort Mill, S.C., has acquired the Cartersville, Ga., yarn mill of Maybank Textile Corp., Dalton, Ga.Maybank has been an excellent supplier of quality yarns supporting our bath rug business for many years, said Stephen P. Kelbley, executive vice president and president of the operations group, Springs Industries. This acquisition is a strategic step in vertical integration to ensure quality products to our customers and consumers. We are very pleased to welcome the highly trained and professional workforce of the Cartersville plant to the Springs family and look forward to continuing to develop an even stronger bath rug business.Springs will retain the 130 people employed at the Cartersville facility. March 2001