|For Immediate Release
||Contact: Ric Grenell
|October 18, 2013
Glenoit Knitting Mill Saved, New Ownership Creates Industry Powerhouse
Tarboro, North Carolina - Glenoit Fabrics today was acquired by long time competitor Monterey Mills, guaranteeing Glenoit’s future as a growing part of North Carolina’s textile dominance. Monterey Mills, an American textile leader with deep roots in Wisconsin, plans to invest in Glenoit’s workers and infrastructure to gain a greater share of the growing sliver knitting industry. Currently, Monterey Mills has an estimated 60% market share.
"The acquisition of Glenoit gives Monterey an important presence in the heart of America's textile industry," says Dan Sinykin, President of Monterey Mills. “Although Glenoit is a mere shell of its past going from 1,100 people in 1997 to less than fifty in the factory today, my vision is to turn that trend around, add jobs in Tarboro and leverage the Made in America brand.”
Sinykin believes one way to compete with the growing overseas manufacturers is to share knowledge and trade secrets. Years ago, dozens of sliver knitting mills existed in the U.S.; today, only four remain. Sinykin believes American manufacturers must change in order to keep up with the growing global markets and increased competition abroad.
“We ship our fabric all over the world so we are confident we can compete and win against any sliver knitting mill anywhere,” said Sinykin. “We must invest in innovation and R&D to prove to our customers that our workers make the best products and are committed to helping them build their businesses.”
Sinykin plans to make sliver knitting a larger part of Glenoit’s future. Sliver knitting is fabric with a wide range of uses, from paint rollers, to apparel applications such as faux fur coats or fleece for outerwear jackets. It is also used in saddle pads, pet bed material, decubitus hospital pads, fabric for mascots and stuffed animals to name a few. Sinykin is also confident the Glenoit factory workers are eager to help make the operation a success.
"This factory is full of really smart people; many have been sliver knitting for over thirty years. Heck, one employee started at Glenoit before my parents were even married. He has been there fifty-three years. I love this tradition,” said Sinykin.
History of Monterey Mills:
Sliver knitting, was invented in Wisconsin in the Forties. It was invented by either Edward Borg of Borg Textiles, in Jefferson, Wisconsin or Joseph Rosenberg, of Argonaut Mills in Milwaukee. Glenoit Fabrics, started in Beloit, Wisconsin acquired Borg Textile in 1996. Argonaut Mills changed its name to Roller Fabrics in the 1970's as knit paint rollers became more popular and supplying fabric to paint roller manufacturers became a large percentage of their business. Roller Fabrics acquired Monterey Mills, of Janesville, Wisconsin in 2005 and would continue operating under the Monterey Mills name. Six months later, Monterey Mills acquired Tex-Tenn Corporation of Johnson City, TN.
PO Box 790 / 1725 E. Delavan Dr, Janesville, WI 53547-0790
(800) 255-9665 / (608) 754-2866 / Fax (608) 754-3750