DORAN'S CLOVER DEAL: Doran Textiles, Shelby, N.C., has purchased the real estate, plant and equipment of Clover Yarn's yarn-making facilities at Clover, S.C. Terms of the deal, which was completed last Thursday, were not...
DORAN'S CLOVER DEAL: Doran Textiles, Shelby, N.C., has purchased the real estate, plant and equipment of Clover Yarn's yarn-making facilities at Clover, S.C. Terms of the deal, which was completed last Thursday, were not disclosed.
The 178,000-square-foot manufacturing facility will increase Doran's yarn business by about 225,000 pounds per week, with initial production slated for the week of June 27, said David Miller, vice president of sales and marketing.
Miller said the acquisition of the Clover facility will add to the firm's offerings of ring-spun yarns, "and will contribute about $25 million in sales on an annualized basis on top of the $215 million we had in 1993."
"The added ring-spun yarn capacity will also provide "some production relief and make us more responsive to our customers," Miller said.
Doran will keep the 140 employees at the plant, "although we will lose a few through attrition," Miller said.
In addition to the Clover facility, Doran operates eight plants throughout South Carolina -- mostly in and around Cleveland County -- mainly making specialty yarns and woven fabrics. The 78-year-old company, which employs about 2,600, is Cleveland County's single largest employer, according to state officials.
Clover Yarn's other two plants, at Clinton, S.C. and Greenwood, S.C., were not affected by the sale.
GUTMAN'S TRIBUTE: James Gutman, president of Pressman-Gutman, a New York converter, and Toni Garment, partner at C.C. Magic, a New York manufacturer of moderate misses' sportswear, were honored Saturday night as the Fabric Salesmen's Association's textile man of the year and fashion woman of the year. The two received their awards at the FSA's annual dinner, held during the group's convention at Kutsher's Country Club in Monticello, N.Y. The three-day parley concluded Sunday.
In his acceptance speech, Gutman, who joined the family-owned Pressman-Gutman in 1981 after a stint as a movie producer, recalled and thanked his late brother Paul "for giving me the opportunities to do some other things in my life."
"While Paul was helping run the company," he said, "I was making movies."Paul Gutman, who was a vice president with the converter, was killed in a plane crash in 1989.
"When I finally joined the company, Paul was there to show me what the business was all about," Gutman said. "This award is as much yours, Paul, as it is mine."
KTA TRADE WINDS: Jay Meltzer, vice president of Goldman Sachs; Edward F. Johnson, director of the Johnson Redbook Service, and William Wollman, chief economist of Business Week, are the featured speakers at the Knitted Textile Association's mid-year financial forecast, slated for June 22 in New York.
The seminar, entitled "The Winds of Change," will focus on factors impacting the economy and, more specifically, the knitted textile industry.
It is scheduled to begin at 8 a.m. at Butler's Restaurant. Reservations are required and can be made through the KTA in New York.
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