By Mike Boyer
Enquirer staff writer
UNION, SC -- Reading's
(PA) Standard Textile Co. has acquired its third textile mill in
the South as it continues to expand its global institutional
linens business.
The privately held company has acquired the former Pillowtex
finishing plant in Union, S.C., and plans to reopen it early next
year as Standard Textile Carolina.
Initial employment will be 40 but employment is expected to
grow.
"A lot of people are saying the textile industry in South
Carolina and the rest of the nation is doomed. We strongly
disagree,'' said Gary Heiman, Standard Textile president.
Pillowtex, one of the nation's largest makers of sheets, towels
and pillowcases, filed for Chapter 11 bankruptcy reorganization in
July 2003. The Kannapolis, N.C.-based company employed more than
7,600 at 17 plants, mainly in the South.
Standard Textile, which acquired two closed Georgia textile
plants in 2001 and 2002, purchased the 21-acre Union, S.C. plant
for an undisclosed price from GGST LLC, an investment firm that
bought Pillowtex assets in a bankruptcy sale.
Standard Textile received an incentive package from South
Carolina, which included a $400,000 grant for upgrade of a
wastewater pretreatment plant and job development credits,
according to reports.
Standard Textile has revenues of about $500 million.
