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Wellstone, Grupo Karim's To Build Honduras Yarn Facility

The Greenville-based Wellstone Group has entered into a joint venture with Honduras-based Grupo Karims to build a state-of-the-art yarn production facility in Honduras. Construction of the plant will begin immediately, and the companies hope to ship the first product by the end of this year. The plant will focus on producing 100-percent cotton and blended yarns.

"Grupo Karims and Wellstone Group have jointly served the growing Central American customer base through its existing exclusive distribution arrangement," said Naiden Kremenliev, CFO, Wellstone. "The formation of this joint venture is a logical outgrowth of that successful relationship. A yarn manufacturing complex located in Honduras will allow us to serve our growing customer base in a more timely and efficient [manner]."

May/June 2007