Springs forges manufacturing pact with Brazilian producer
Staff -- Home & Textiles Today, 8/16/2001 12:00:00 AM
Fort Mill, SC — With its eye on globalization, Springs Industries Inc. today said it has signed a strategic long-term alliance with Brazilian textiles manufacturer Coteminas to produce bed and bath products.
Coteminas will provide manufacturing resources to support Springs' sales and marketing of home furnishings products in North America.
The partnership "will allow us to offer a broader array of products on a competitive basis," said Crandall Bowles, Springs chairman and chief executive officer.
Coteminas did $259.4 million in sales during 2000, producing fabrics for the manufacture of bed linens, tablecloths, bath towels, curtains and clothing, as well as its own branded home goods in Latin America. Bed, table and bathroom linens accounted for 39 percent of 2000 sales, thread and fabric for 46 percent and shirts and stockings for 15 percent.
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