WestPoint Stevens Will Close Hickory, N.C., Plant

Share Name	Share Symbol	Market	Type
Westpoint Stevens (MM)	NASDAQ:WSPT	NASDAQ	Common Stock

Westpoint Stevens (NASDAQ:WSPT)
Historical Stock Chart

From Feb 2020 to Feb 2025

Click Here for more Westpoint Stevens Charts.

WestPoint Stevens Will Close Hickory, N.C., Plant WEST POINT, Ga., Oct. 1 /PRNewswire-FirstCall/ -- WestPoint Stevens Inc. (OTC:WSPT) (BULLETIN BOARD: WSPT) ( http://www.westpointstevens.com/ ) announced today that in a continued restructuring to gain stronger position in the global marketplace, the Company would close its Longview Plant, Hickory, N.C. at year-end. The Longview Plant fabricates bedding accessory products and employs approximately 300 associates. "For WestPoint Stevens to successfully compete in today's global economy, we must follow a strategic plan to balance our domestic manufacturing and sourced products," said WestPoint Stevens President and CEO M.L. (Chip) Fontenot. "A reduction of our domestic manufacturing will give the Company greater flexibility and better-aligned capacity for competing more effectively in the world market," Fontenot noted. "We greatly appreciate the associates at Longview - indeed all our associates - whose skills and perseverance over the years have helped WestPoint Stevens become a home fashions leader, and we regret that demands of the global economy make such changes necessary." WestPoint Stevens Inc. is the nation's premier home fashions consumer products company, with a wide range of bed linens, towels, blankets, comforters and accessories marketed under the well-known brand names GRAND PATRICIAN, PATRICIAN, MARTEX, ATELIER MARTEX, BABY MARTEX, UTICA, STEVENS, LADY PEPPERELL, SEDUCTION, VELLUX and CHATHAM - all registered trademarks owned by WestPoint Stevens Inc. and its subsidiaries - and under licensed brands including RALPH LAUREN HOME, DISNEY HOME and GLYNDA TURLEY. WestPoint Stevens can be found on the World Wide Web at http://www.westpointstevens.com/ . Safe Harbor Statement: Except for historical information contained herein, certain matters set forth in this press release are "forward looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties may be attributable to important factors that include but are not limited to the following: Product margins may vary from those projected; Raw material prices may vary from those assumed; Additional reserves may be required for bad debts, returns, allowances, governmental compliance costs, or litigation; There may be changes in the performance of financial markets or fluctuations in foreign currency exchange rates; Unanticipated natural disasters could have a material impact upon results of operations; There may be changes in the general economic conditions that affect customer practices or consumer spending; Competition for retail and wholesale customers, pricing and transportation of products may vary from time to time due to seasonal variations or otherwise; Customer preferences for our products can be affected by competition, or general market demand for domestic or imported goods or the quantity, quality, price or delivery time of such goods; There could be an unanticipated loss of a material customer or a material license; The availability and price of raw materials could be affected by weather, disease, energy costs or other factors; The future results of operations may be adversely affected by factors relating to the Chapter 11 proceedings. The information contained in this release is as of October 1, 2004. WestPoint Stevens assumes no obligation to update publicly any forward-looking statements, contained in this document as a result of new information or future events or developments. Contact: Lorraine D. Miller, CFA Senior Vice President Finance and External Communications 404.378.0491 DATASOURCE: WestPoint Stevens CONTACT: Lorraine D. Miller, CFA, Senior Vice President, Finance and External Communications of WestPoint Stevens, +1-404-378-0491 Web site: http://www.westpointstevens.com/

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

WSPT Westpoint Stevens (MM)