US textile Giant Milliken closing Sharon Plant
A strategic economic step taken by textile giant Milliken & Co. means the loss of employment for 140 workers at the company’s Sharon Plant. Milliken announced Wednesday it is selling the automotive body cloth division of the company, resulting in the Abbeville Plant being transferred to a new company and the Sharon…
Egytex News Desk
Egytex
According to a Milliken news release, the company has signed a letter of intent to sell its global automotive body cloth division to a Milliken management group led by Dirk Pieper and Brian McSharry, who are being supported by Azalea Capital LLC, a Greenville-based investment firm. The new company will operate under the name “Autotex” and will continue to be headquartered in South Carolina. The target closing date of the sale is July 10.
From the Egytex news archive, first published on 21 May 2009. Figures and names are as reported at the time.
