NEW YORK — A team of textile executives headed by Texfi’s Andrew Parise last month bought the defunct United Piece Dye Works plant in Edenton, N.C., and have reopened it under the name Edenton Dyeing & Finishing. The plant will do...
NEW YORK — A team of textile executives headed by Texfi’s Andrew Parise last month bought the defunct United Piece Dye Works plant in Edenton, N.C.,and have reopened it under the name Edenton Dyeing & Finishing. The plant will do contract finishing work for U.S. converters, as well as dye fabrics for Texfi.
A group of investors affiliated with Texfi Marketing and NRB Industries Inc., which last year bought the Texfi name and marketing operation out of bankruptcy, purchased the plant through an investment vehicle called Jasco Acquisitions Corp. for an undisclosed sum. Jasco Acquisition is not related to New York converter Jasco Fabrics.
"My goal is, by March, to have [Edenton] as the premiere dye house in the country," said Parise, who serves as president and chief executive officer of Texfi and also has taken on the role of ceo of Edenton. "We still believe there is a need for a domestic textile business, for quick turn and high quality — there is a need for that type of operation."
Texfi had begun buying its dyeing from United Piece Dye in December, but on Aug. 5 was informed that company was about to go out of business. The dyeing industry has been suffering in recent years along with the rest of the textile trade, particularly as many of the converters that are dye houses’ primary customers have gone out of business.
Recognizing that Texfi needed dyeing services to continue its current business model — the company now works essentially as a converter, selling primarily NRB gray fabrics — it needed to have a dye house to rely on. So he assembled a team of investors, whose names were not disclosed, and on Sept. 13 closed on a deal for the Edenton facility.
The plant, which employs 105 workers, is now running three-shift schedules, seven days a week. It dyes cotton fabrics, synthetics and blends. It also operates a Hergeth machine, which produces 40-yard runs of fabric for sampling purposes.
Parise said Texfi is currently using about 30 percent of the facility’s capacity, with the company relying on outside customers for the rest of its sales. He said he does not intend for Texfi to use more than half of NRB’s capacity.Parise said Edenton in its new incarnation will have three advantages over the predecessor company.
"The difference is the service and quality that we’ll offer to converters," he said. "Also, we don’t have the debt that they did. The company has no debt and that is a big help."
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