ITG to absorb Ross firm SCI

Greensboro, N.C.— International Textile Group (ITG) and Safety Components International, both affiliates of WL Ross & Co., said today they will merge, with Safety Components being folded into ITG.

On a combined basis, net sales would have been $997.7 million for the year ended December 31, 2005 and $443.9 million for the six months ended June 30, 2006.

Chairman Wilbur Ross said the merger will "represent a significant milestone in the evolution of ITG and the textiles industry." He said the merged business will form the basis of combined company's automotive safety components business. ITG operates four business units: Cone Denim, Burlington WorldWide (apparel fabrics), Burlington House (interior fabrics), and Carlisle Finishing.

Autmotive Safety will be the fifth business unit. SCI is a leading supplier of automotive airbags and cushions.

Featured Video

  • The Countdown to the ICON Honors Continues featuring Christophe Pourny

    Camera Icon More Videos


HTT digital edition

See the May 2017 issue of Home & Textiles Today. In this issue, we discuss our annual Market Basket survey, which finds higher prices and more polyester at leading retailers. See details!