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Article: Glenoit buys Borg to up knit output.(Collins & Aikman Canada Inc.'s Borg Textile Div.)(Brief Article)
- Article from:
- HFN The Weekly Newspaper for the Home Furnishing Network
- Article date:
- September 29, 1997
- Author:
CopyrightCOPYRIGHT 1997 MacFadden Communications Group 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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Glenoit Corp. has acquired the Borg Textile Division of Collins & Aikman Canada Inc. for about $8 million, and plans to improve Borg's manufacturing capabilities.
Glenoit, a maker of household rugs and specialty fabrics for the apparel, home furnishings, retail and automotive industries, hopes to expand its sliver knit production 50 percent by March 1998. Borg is Canada's largest producer of the plush fabric, which is used in home textiles and outdoor apparel, according to Thomas J. O'Gorman, president and chief executive officer of Glenoit.
Glenoit will funnel $4 million into Borg's 133,000-square-foot Elmira, Ontario, plant. The facility will be expanded and ...