Dan River ups the ante systems spending
February 27, 2003-- Home Textiles Today,
Danville, VA — Reversing a long industrywide trend of slowed capital spending, Dan River Inc. said it plans to boost its capital outlays by as much as 85 percent this year.
In a recent 10-K federal filing, the nation's fifth-largest home fashions supplier, with sales of home textiles last year of $438 million, said it will increase spending to $20 million to $23 million, up sharply from $12.4 million in 2002.
The money, the company said, will be spent on information systems, sewing automation and other upgrades and routing plant maintenance.
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