National Spinning acquires Carolina Nonwovens
Casual Living Staff -- Casual Living, 3/28/2012 6:16:00 AM
NEW YORK, NY — National Spinning Company announced its acquisition of Carolina Nonwovens Corporation.
Carolina Nonwovens is a producer of airlaid and thermobonded products used in a wide variety of applications including bedding, insulation, automotive, geotextiles, furniture and foam replacement. Founded in 2006, the Lincolnton, N.C.-based company processes natural, synthetic and recycled fibers into fabrics with thicknesses from 5 to 250 millimeters.
Founded in 1921 and employee-owned, National Spinning Company is a leading U.S.-based producer and distributor of yarns for a variety of end-uses. Its Hampton Art LLC division is a leading wholesaler of consumer craft products, including decorative rubber stamps, stamp-pads and other paper crafts.
"We are thrilled to enter the exciting and growing field of nonwovens, something that has interested us for some time," National Spinning CEO James W. (Jim) Chesnutt said. "Carolina Nonwovens presents an excellent platform for growth and opportunity in this dynamic industry."
Commenting on National's diversification, Chesnutt added, "Nonwovens add beautifully to National's portfolio of businesses. We feel confident there will be synergies with our yarn operations, craft and distribution capabilities."
Carolina Nonwovens LLC became a wholly owned subsidiary of National Spinning, effective March 19.
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