HICKORY: A separate company Shuford Yarns LLC is in plans to be established by the Shuford Mills LLC to take over its yarn business, Pope Shuford, chairman, STM Industries Inc., parent company of Shuford Mills said here on June 06.
The chairman added that all Shuford Mills stakeholders including vendors and customers will be benefit greatly from this transaction.
Shuford Mills produces and distributes coarse-count cotton and polyester yarns for home-furnishing and industrial applications.
However weaving operations will retain the Shuford Mills name and will continue to operate a plant in Hudson, N.C., which manufactures Outdura® outdoor fabrics for industrial applications.
Further Shuford Mills President Allen Barwick will own a 75 percent share in the new company and Shuford Mills will own a 25 percent share.
The company further cleared that by establishing separate yarn and weaving operations it will maintain a keen focus on its unique manufacturing processes and market opportunities.
The main aim of the company is to drive discipline and efficiency that are required to remain competitive in the textile business.