Wisconsin-based Monterey Mills has acquired North Carolina-based Glenoit Fabrics from the management coalition group that took ownership of the firm in 2009.
The plan is to make sliver knitting a larger part of Glenoit’s future. Sliver knitting is used for a wide variety of applications including insulation for outdoor clothing.
"The acquisition of Glenoit gives Monterey an important presence in the heart of America's textile industry," says Dan Sinykin, president of Monterey Mills. “Although Glenoit is a mere shell of its past going from 1,100 people in 1997 to less than 50 in the factory today, my vision is to turn that trend around, add jobs in Tarboro and leverage the Made in America brand.”
Mr Sinykin believes American textile manufacturers must make important changes if they are to compete with overseas producers.
“We ship our fabric all over the world so we are confident we can compete and win against any sliver knitting mill anywhere,” he said.
“We must invest in innovation and R&D to prove to our customers that our workers make the best products and are committed to helping them build their businesses.”
Glenoit partner Concept III will work closely with Monterey to develop textiles for the company’s outdoor brand customers.