Gastonia-headquartered Parkdale, which employs 300 workers in Gaston County, confirmed acquisition of Summit Yarnsâ€™ Mexican manufacturing plant. This should only strengthen its local and U.S. operations, according to company President Dan Nation.
Financial terms of the purchase, which closed Aug. 28, and the cost of projected plant upgrades, were not disclosed, but Nation called them â€œsubstantial.â€
Nation said that it strengthens the entire company - including the jobs here in the United States - because the plant is supported by these corporate offices. For their customers, it means they will produce a wider variety of products from that facility.
Parkdale has already initiated expansion plans at the facility, which currently employs 350. Nation said that he does not expect the expansion plans to add significant employees to the Mexican plant.
The purchase means Parkdale now has sole ownership of a facility in Morelos, Mexico, it had owned jointly with International Textile Group since 1997. Despite the purchase, Parkdaleâ€™s new plant will continue to supply ITGâ€™s (Cone Denim Yecapixtla) plant under a long-term agreement.
The acquisition is simply seen as an opportunity to get a great building with an already trained workforce. They also saw an opportunity to invest in that facility, double their production and broaden the base of customers they serve there.
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