Valdese Expands U.S. Manufacturing
March 26, 2007,
Valdese Weavers will expand its domestic manufacturing facilities with the acquisition of a 198,000-square-foot facility here, formerly owned by Carolina Mills. The new facility, the company's third factory here, is expected to result in about 61 new jobs and amount to a $15.1 million total investment over the next three years. The company will begin its move in May, install new finishing equipment in June, and will be fully operational by January 2008.
Mike Shelton, president and ceo, said, "After a very deliberate evaluation of opportunities to either expand globally or go to other areas domestically, we have chosen to make this commitment to grow our business in Valdese, where we have a 72-year heritage." He added, "We are very fortunate in the current environment of globalization in the textile industry to have been able to consistently grow our business and experience a 14% growth rate in 2006."
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