The following announcement indicates an investment by Monterey Mills in its sliver knitting capacity. The headline writer got a little carried away indicating it was a $250 million investment instead of the actual $250,000 investment! However, in sliver knit, an investment of $250,000 is quite substantial.
AKC Note: This plant of Monterey Mills is the former Glenoit Fabrics which was a significant industry player in the 1990s. They were purchased by Wisconsin based Monterey Mills in 2013 and at that time there were less than 50 employees remaining. Based on the announcement it appears the investment will be targeted at the paint roller business. Positive news just keeps coming!
Alasdair Carmichael
Carmichael International
PO Box 3444
Spartanburg, SC 29304
T: 864 583 6868
C: 864 542 4481
News Update is a service of Carmichael International designed to provide relevant up to date information on the textile markets. We aim to provide links to information and some commentary which is provided in good faith as to its accuracy. Carmichael International however disclaims any and all liability and responsibility for information supplied and any decisions that may be made on the information.
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