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Culp teams with Synthetic Finishing

HIGH POINT, N.C. -- Culp, Inc. is strategically aligning with Synthetics Finishing, a division of TSG Incorporated, to provide finishing services to Culp for its domestically produced decorative upholstery fabrics.

Synthetics Finishing will collaborate with Culp on research and product development activities. As a result, Culp will close its finishing plant in Burlington, N.C., reducing the number of Culp workers by approximately 100. This transition is expected to be completed in January 2006.

The company expects total pre-tax charges of approximately $2.7 million, of which $2.1 million is expected to be non-cash items. The charges are expected to be recorded in the second and third quarters of fiscal 2006.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

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