THOMASTON NARROWS ITS LOSSES: Despite a 4.8 percent decline in sales, Thomaston Mills Inc. reported improved bottom-line results for its third quarter.
The Thomaston, Ga.-based mill posted a $1.9 million net loss, compared with a $5.5 million net loss the prior-year quarter. Sales were $45.7 million, down from $48 million. The company attributed the decline in revenues to lower volume for piece-dyed fabrics, which remain its sole presence in the apparel business since it shuttered its denim and yarn-sales operations last year.
The mill added that it expects sales of piece-dyed fabrics to pick up in the fourth quarter.
For the nine months, Thomaston recorded a $5.7 million net loss, compared with a $14.9 million net loss a year ago. Sales were $123.6 million, off 4.2 percent from $129 million.
GALEY DYE AWARD: Dye maker Isochem Colors Inc. has paid Galey & Lord Inc. “almost $2 million” toward an arbitration award issued last month, according to Galey’s counsel, Donald Kreindler of Phillips Nizer Benjamin Krim & Ballon, who added that Galey “was most pleased with the result.”
According to court papers filed last month in Manhattan federal court to confirm the award, the dispute arose after Galey discovered “unacceptable color fading” in its black and navy dyed fabrics. The dye used was Isochem’s Isozol Black GLSQ 50. The award noted that the Black Conc component was defective, causing the fabric to “fade upon short exposure to fluorescent light.”
According to the court documents, Galey sought in excess of $2 million in damages. Isochem, the court filing said, agreed to pay $1,992,480, minus $142,480 owed for unpaid invoices. Both parties agreed that the settlement form the basis of the arbitration award.
UNIFI IN NYLON DEAL: Unifi Inc. and Israeli yarn maker Nilit Ltd. last week agreed to form a joint venture to produce nylon 6,6 partially oriented yarn in Israel. The team will make nylon for the apparel, industrial and home furnishings trades.
TDA ON THE WAY: The Textile Distributors Association plans to hold its annual meeting next month at the Seaview resort in Absecon, N.J. The event is to run June 21 through 23.
On June 22, three industry executives are to address the meeting. They are: Tom Cole, chairman and chief executive officer of logistics and operations at Federated Department Stores Inc.; John Pomerantz, chairman of The Leslie Fay Co. Inc.; and Nancy Karch, advisory board managing partner at McKinsey & Co. Inc.
EMBROIDERY STUDY: The NEA last month awarded a $20,000 grant for a study of embroidery in New Jersey.
The study, “The Cultural Thread: An Exploration of the Embroidery Traditions of New Jersey,” is being conducted by Meriam Lobel, director of the folk arts program at the Park Performing Arts Center in Union City, N.J., along with Kelly Feltault, an oral historian, and Mirtha Quintanales, an assistant professor at New Jersey City University.
Lobel said that she chose to research embroidery because it was a common cultural tradition of many of the immigrant groups that settled in New Jersey and because commercial embroidery for many years underpinned the state’s economy, though the industry now is on the decline.
The researchers will interview employees and owners of New Jersey embroidery businesses, as well as study unique embroidered products. When the research is completed, the project will create a traveling museum exhibit and other presentations on embroidery in the state.