Culp in pact to sell Hanes its industrial fabrics div. (Culp Inc., Hanes Companies Inc.)

From: Daily News Record | Date: August 17, 1987| Author: | Copyright information

Culp in Pact to Sell Hanes Its Industrial Fabric Div.

Culp, Inc., has agreed to sell its industrial fabrics division to Hanes Companies, Inc., for approximately $6 million, according to Robert G. Culp, Jr., chief executive officer of Culp, Inc.

Following the acquisition, Culp Industrial Fabrics division will be merged into Hanes Converting Co., a division of Hanes Companies, according to Donald H. Bernstein, president of Hanes Converting Co.

Culp Industrial Fabrics division is composed of a manufacturing plant and two distribution centers, with approximately 80 employes. ...

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