FAB INDUSTRIES BUYS TRADE NAME, COPYRIGHTS FROM WIENER LACES

NEW YORK — Fab Industries Inc. said it has acquired the copyrights, trade name and certain other assets of Wiener Laces Inc., a New York-based manufacturer of raschel and leavers lace goods. Terms of the acquisition were not disclosed.
Samson Bitensky, chairman and chief executive officer of Fab, said the Wiener operation is expected to augment the company’s position in the lace business. The company will not consolidate Wiener with its own lace operation; Wiener will operate as a separate division.
Arnold Wiener, president, and John Wiener, vice president of sales and marketing of Wiener Laces, have signed employment and consulting agreements with Fab and will continue with the Wiener operation. Arnold will be a consultant and John will remain vice president of sales and marketing.
Bitensky declined to comment on the volume of Wiener, a private company.
In the year ended Nov. 30, Fab earned $8.8 million on sales of $156.1 million.
Fab manufactures knitted textile fabrics, laces, related finished home products and urethane products.

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