Sunbury creates stock plan
Carole Sloan -- Home Textiles Today, July 26, 2004
Sunbury Textile Mills has created an Employee Stock Ownership Plan (ESOP) as part of the company's 50th anniversary celebration.
Sunbury, a decorative fabrics mill, was sold by management in 1989 to Masco, which later spun it and other home furnishings manufacturers to LifeStyle Furnishings International, now defunct. In 2001, Sunbury management bought the company back from LifeStyle.
Hank Truslow Jr., now president and CEO, leads the management team. His father, Hank Truslow Sr., has relinquished the CEO title but continues as chairman. "He is scaling back his role, and is focusing on governmental and industry administrative issues," Truslow Jr., explained.
Management, which retains a majority ownership, includes Rocco Simone, senior vice president of sales and marketing; Mark Grigalunas, senior vice president of styling and design; Tom Smith, secretary/treasurer; Jennifer Welge, vice president of jobber design; and Brian Burke, vice president of operations.
The company, which does about $45 million in decorative fabrics targeted to the jobber, furniture, export, manufactured product and retail channels, has placed itself in key niche markets, said Simone.
"We're positioning ourselves in product development and products that are not made overseas, like Sunbrella outdoor/indoor fabrics and Crypton fabrics," he said.
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