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Meridian Purchases Kennetex Assets

Meridian Specialty Yarn Group Inc., Valdese, N.C., has acquired the equipment and other assets of Kennett Square, Pa.-based Kennetex Inc., a space-dyed textured polyester and novelty yarn producer serving the home furnishings, carpet and rug, and other textile markets.

Meridian will move most of Kennetex's equipment to the Meridian yarn-dyeing facility in Valdese, and will consolidate the rest into its Ranlo, N.C., novelty yarn facility. The company notes the Kennetex product line complements the various package-dyed and space-dyed yarns currently offered from the Valdese facility, while broadening the offerings from the Ranlo facility.

July/August 2012