Shuford Mills Announces Plans To Form New Yarn Company
HICKORY, N.C. – Shuford Mills LLC has announced plans to form a company dedicated to the manufacture and distribution of coarse-count yarns. The new company, Shuford Yarns LLC, will be co-owned by Shuford Mills and members of the new management team, including Shuford Mills president Allen Barwick.Shuford Yarns initially will own two manufacturing plants, which it has agreed in principle to purchase from Shuford Mills on June 30. The two yarn plants that will make up Shuford Yarns are located in Long View, N.C, and Dudley Shoals, N.C. The plants manufacture coarse-count cotton and polyester yarns for industrial and home-furnishing applications.
Shuford Mills' weaving operations, including the Hudson, N.C., facility that manufactures the Outdura® line of outdoor fabrics, will remain a part of the parent company, STM Industries Inc.
"All Shuford Mills stakeholders – most significantly our vendors and customers – will benefit greatly from this transaction," said STM Industries chairman Pope Shuford. "Our experience has taught us that focus and discipline drive the efficiencies that are required to remain competitive in the textile business. Establishing separate yarn and weaving operations ensures that each company will maintain a keen focus on its unique manufacturing processes and market opportunities."
Barwick will serve as president of Shuford Yarns LLC, and Shuford will sit on the board of directors.
Additional information is available from Pope Shuford at (828) 304-8312 or pshuford@shurtape.com.
