ATMI: 2003 second-worst for U.S. textiles in 50 years
By Furniture Today Staff -- Furniture Today, January 26, 2004
WASHINGTON — The textile industry had another tough year in 2003, with almost 50 mills closing and employment falling 10%, the second-worst annual performance for the sector in the past 50 years, the American Textile Manufacturers Institute said in its year-end report.
The report blames Asian imports and U.S. government inaction for keeping the textile industry in a state of crisis.
James Chesnutt, president of ATMI and of National Spinning Co., said the numbers make it clear the industry will be in a fight for survival in 2004. "But the industry, for the first time in many years, is organized, energized and united," he said.
He accused the federal government of "talking a good game" on fair trade but failing to deliver it. Chesnutt called on Congress to reject the Central American Free Trade Agreement and "pass legislation that penalizes countries such as China that unfairly and illegally manipulate their currencies and put hard-working Americans out of their jobs."
The ATMI report said the strengthening economy has helped some companies, but that primary textile processes like spinning, weaving and knitting deteriorated for the eighth straight year in 2003.
The full report is available on the trade group's Web site, www.atmi.org.
