Glen Raven sells plant, leaves yarn business
By Furniture Today Staff -- Furniture Today, February 18, 2002
GLEN RAVEN, N.C. — Fabric source Glen Raven has exited the yarn business and will concentrate on fabrics for the home furnishings, industrial and automotive markets.
The company has sold its yarn facility in Kinston, N.C., to National Spinning Co., a yarn specialist that bought two other Glen Raven plants in North Carolina's Alamance County last November.
"As this industry continues to consolidate, it is important to stay focused on our core competence," said Allen Gant, president and chief executive officer of Glen Raven.
This latest sale includes the building, land and business, unlike the previous sale in which National Spinning purchased the operations but leases the land and buildings from Glen Raven.
