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National Spinning Sells El Salvador Subsidiary

National Spinning Co. Inc., New York City, has sold substantially all assets of Fuente de Ropa de las Americas — the company’s sweater operations in El Salvador and Hoboken, N.J. — to Los Angeles- based Koam Knitech Inc. Machinery from the operations will be relocated to Guatemala and Los Angeles.

National Spinning will continue to supply yarn spun in its US plants to Fuente in Guatemala. Robert Gordon, National Spinning’s New York yarn sales manager, will continue to market and sell sweater packages to former Fuente Apparel customers and other trade customers.

The company reports Paul Vergara, Fuente’s former administrative manager based in El Salvador, will be responsible for yarn sales and business development in Latin America.

Going forward, National Spinning, along with its wholly owned subsidiary, home crafting products provider Caron International, Washington, N.C., will focus on its core business and expand products and services for commercial and consumer markets.

“We are confident that sweater production will continue to develop in the Central American region, and we are pleased to offer a broad range of yarns and services to support this market,” said James Chesnutt, CEO, National Spinning.

April 15, 2008