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Gulistan Gets New Investment Financing

Gulistan GetsNew Investment, FinancingHampton Capital Partners LLC, Roanoke, Va., has made an equity investment and will provide mezzanine financing to support ongoing operations at Gulistan Carpet Inc., Aberdeen, N.C. In addition, Gulistan will receive from Fleet Financial Corp., Glastonbury, Conn., a new credit facility, which consists of a term loan, a revolver and a capital expenditure line. This new investment and recapitalization guarantees the long-term continuity of Gulistan as an independent company, said Charles D. Kennedy, president, Gulistan.According to Kennedy, Gulistan will continue to use DuPont Stainmaster® and Wear Dated® fibers in its products. The company is set to roll out several new Stainmaster carpet styles, as well as Tactesse® products. November 2003




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