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Article: International Textile Group Sells Burlington House Mattress to Culp.
- Article from:
- PR Newswire
- Article date:
- January 11, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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GREENSBORO, N.C., Jan. 11 /PRNewswire/ -- International Textile Group, Inc. (BULLETIN BOARD: ITXN) today announced that it would sell the mattress fabrics product line of the Burlington House business unit to Culp, Inc. . The sale would include the current inventories and related intellectual properties of the mattress fabrics product line. The purchase price will be for $2.5 million in cash and approximately 880,000 shares of Culp common stock. The transaction is expected to close by the end of January 2007.
"Burlington House brand has been a leading provider of mattress fabrics for over 50 years with innovative, design-driven products and a commitment to ...