Textile fabrics maker Culp to reduce yarn manufacturing operations
17 Aug '05
3 min read
At the same time, we are excited about the increased opportunities for development of innovative and value-added performance products with these strategic suppliers. The reduction of Culp's yarn operations represents another important step towards bringing our U.S. manufacturing capacity in line with market demand. With the consolidation of the chenille and wrap-spun yarn operations into the Lincolnton plant, we will realize lower manufacturing costs.
Culp added, "They recognize that these changes have necessitated very difficult decisions regarding our operations and our associates. They regret the impact of these decisions, but remain committed to taking whatever steps are necessary to restore the profitability of our U.S. upholstery fabric operations."
The company expects to announce financial results for the first quarter of fiscal 2006 on August 31, 2005.
North America based Culp Inc is one of the world's largest marketers of mattress fabrics for bedding and upholstery fabrics for furniture. The company's fabrics are used principally in the production of bedding products and residential and commercial upholstered furniture.
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