WORLDTEX FACES DELISTING: Narrow-elastics and covered-yarn maker Worldtex Inc. was warned Friday by the New York Stock Exchange that it does not meet the board’s new listing standards.
Those standards include a total market capitalization of $50 million.
Worldtex said in a statement it has submitted a plan to the Big Board showing how it intends to comply with the listing standards.
“Our experienced management team is working diligently to improve Worldtex’s financial results, notwithstanding these challenging times for the textile industry,” said chairman and chief executive officer Barry D. Setzer.
Worldtex shares closed Monday unchanged at 3/8. Its market capitalization is $4.9 million.
TOMMY AWARD HONOREES: The Printed Fabrics Council, producer of the annual Tommy Awards, announced Allen B. Schwartz and Peter G. Scotese as honorees for this year’s event. Schwartz is the founder and design director of ABS by Allen Schwartz, while Scotese is the retired chief executive officer of Springs Industries. The awards presentation takes place on December 12, 2000 at the Pierre Hotel in New York.
NEW APPOINTMENTS AT GLOBE: Bob Bailey, vice president of sales and marketing of Globe, announced a reorganization and strengthening of the U.S. sales force and marketing department.
Heading up the South East Regional Sales office located at Globe’s Gastonia, N.C., facility is 20-year veteran Rusty Ford, who was promoted to director of sales, Eastern region from product manager. Ford reports to Bailey.
Other appointments at the Gastonia facility include Jeff Gladden as technical sales executive for knits. Gladden recently served in a technical fabric capacity at the Cellulosic Fibers division of Acordis/Courtaulds and in fabric development at Vanity Fair. Preston Kelly also joins Globe as the manager of stretch wovens.
Formerly at Unifi working in textured and covered yarns, Kelly’s work at Globe will be to promote the use of spandex in stretch woven applications. Allison Whittle also joins Globe as account executive in hosiery. She also hails from Unifi where she worked in textured and covered yarn sales for sheer hosiery.
Kim Clodfelter will also join Globe as an account executive in the warp knit division after working at Collins & Aikman where she was in sales support, quality and product development. In the mill’s Fall River, Mass., offices, Bill Girrier has been appointed to assistant vice president of marketing and business development. He provides both corporate coordination and strategic planning for the company, as well as heading up corporate communications and advertising
DUPONT’S SEAMLESS TRANSITION: DuPont’s CoolMax and CoolMax Alta performance fabrics will now be used in seamless fabrics in the areas of fitness, activewear and intimate apparel, proving that polyester is indeed highly compatible with the seamless technology once reserved for nylon fiber.
In addition to producing garments that feature the wicking and drying benefits of CoolMax and CoolMax Alta, there will be minimal seams to rub the skin or split, limited buttons, hooks, zippers or clasps to contend with and the fit will be smooth and sleek.
“With this great new seamless technology, we are able take the control and shaping elements from intimate apparel and marry them with CoolMax and CoolMax Alta to produce the ultimate garment that is extremely comfortable, very forgiving and high performance with a modern look,” said Roseann Beutell, intimate apparel segment manager for DuPont CoolMax.
In other DuPont news, Lycra introduced a new poster featuring the New Face of Lycra Brian Delmonico. Selling for $7 on the company’s Web site, the new poster is the start of a $40 million global ad campaign that will include print and television advertisement, all featuring Delmonico.