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MSYG to invest $8mn on expansion of its new textile plant

YarnsandFibers News Bureau 2016-01-30 13:00:00 – VALDESE, NC

Meridian Specialty Yarn Group, Inc. (MSYG), headquartered in Milwaukee, Wisconsin, United States, a leading specialty yarn manufacturer and producer of package dyed and space dyed yarn, is planning major expansion of their current manufacturing operations in Valdese, North Carolina. Meridian anticipates spending $8 million on the expansion.

Construction will commence this winter on a new 113,000 SF manufacturing plant, which will be located at the company’s current manufacturing site in Valdese, North Carolina. Completion of the project, which includes renovations to the company’s existing 152,000 SF plant, is expected by early winter, 2017, and will greatly expand Meridian’s current capabilities.

A small section of the existing plant will be removed and the final manufacturing operation will span 260,000 square feet of production and warehouse space.

Over the past eight years, as other US companies in the same sector have closed operations or moved overseas, while MSYG has continued operations in North Carolina and has emerged a global leader.

The company manufactures and dyes yarn for many industries including home furnishings and upholstery, hosiery, apparel, narrow fabrics, carpets and rugs, sewing thread, craft and industrial textiles.

At the company’s wet processing plant in Valdese, Meridian offers the widest range of yarn dyeing products in the industry, including package dyed yarn, three processes of space dyed yarn, top dyed wool, yarn printing and twisting.

Today, products made by Meridian Specialty Yarn Group are found in retail and craft stores across the country, and also in carpets, furniture, window treatments, automobiles, tires, socks and more.

Tim Manson, president of the company said that they believe a strong manufacturing base is crucial to the US economy and they will do all that they can to support their customers, employees and the communities in which they operate.

They are excited about the opportunity this new investment represents for them from a business perspective, and also for the town and for their employees, said Manson. When they developed the business plan for the expansion, they did a great deal of due diligence with regard to the location, and concluded the best place to be is where they are. They greatly appreciate the support of the city and county in helping them though this process.

Valdese Mayor Chip Black said that this is a significant announcement for the Town of Valdese. They have worked with Meridian for many months to facilitate the process and find a solution that supports their tremendous growth opportunities while remaining here in Valdese.

Meridian has had operations in Valdese since 1994. A great deal of thought, study and time has gone into the decision to stay in Valdese. The company currently employees 146 employees and the expansion will result in 25 additional jobs.

Meridian has grown from a $35 million company in the early 1980’s to a $300 million company today. Their two production plants, in Ranlo and Valdese, North Carolina, specialize in novelty yarn manufacturing and in yarn dyeing, respectively.

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