I
nternational Textile Group Inc.
(ITG), Greensboro, N.C., and Safety Components International Inc. (SCI), Greenville, have completed
their merger, with the resulting company known as International Textile Group Inc. SCI — a
low-cost, global supplier of automotive air-bag fabric and cushions, and a manufacturer of
value-added man-made fabrics for various niche commercial and industrial applications — now
operates as ITG’s Safety Textiles International business unit, joining Cone Denim, Burlington
WorldWide apparel fabrics, Burlington House interior fabrics and Carlisle Finishing units under the
ITG umbrella. Wilbur L. Ross Jr. and Joseph L. Gorga continue in their roles as chairman, and
president and CEO, respectively, of ITG; while SCI’s president, Stephen B. Duerk, now serves as
president of the new business unit.
“SCI’s automotive safety and specialty niche engineered fabrics, along with globally
fabricated airbag cushions, bring strong product diversification to ITG,” Gorga said. “We expect to
be able to benefit from many synergies in our [research and development] initiatives, manufacturing
processes, purchasing strategies and international expansions.”
Stock in the combined company is trading on the over-the-counter bulletin board, initially
under SCI’s symbol, SAFY.
