Nakshbandi to merge into 1888 Mills
August 3, 2007-- Home Textiles Today,
Oakbrook, Ill. and Karachi, Pakistan – Diversified home textiles supplier 1888 Mills, LLC and Nakshbandi Industries Ltd. have entered into a memorandum of understanding to pursue integration of Nakshbandi into the global manufacturing base of 1888 Mills.
During the due diligence process which has begun, both companies have reached agreement that 1888 Mills will market, sell and plan all production from the Nakshbandi facility.
Expected completion of the integration is by October 1, the companies said.
“Nakshbandi's brand has been a global leader in towel manufacturing, and we look forward to enhancing this brand as part of the 1888 Mills Group,” said Fulton Allen, president, consumer products division, 1888 Mills.
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