Shaw to acquire Beaulieu plants
February 11, 2002-- Home Textiles Today,
Shaw Industries Inc. and Beaulieu of America announced last week the signing of two separate letters of intent for Shaw Industries to acquire certain Beaulieu facilities.
In the first transaction, Shaw Industries will acquire Beaulieu's Aiken, SC, nylon yarn manufacturing facility.
"It's a state-of-the-art filament nylon yarn extrusion facility," Julius Shaw, executive vp, Shaw Industries, told Home Textiles Today.
In the second transaction, Shaw will acquire from South Richmond Chemical LLC a 45 percent interest in Georgia Monomers Company LLC, a joint-venture with DSM of North America Inc., which owns the remaining 55 percent interest in an Augusta, GA-based chemical plant that produces catrolactam.
"Catrolactam is a major component in the production of nylon — a key ingredient," Shaw said. "From that plant in Augusta, we'll ship the catrolactam to produce the nylon in Aiken, where we'll make our broadloom carpets."
Shaw added that the acquisitions will allow it to be more vertically integrated in the production of nylon filament.
The deals are expected to close within 30 days to 60 days, or by late March.
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