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Meridian Group to pump $8 mn in US textile plant
03
Feb '16
Meridian Specialty Yarn Group, (MSYG), the leading specialty yarn manufacturer in the US and a leading producer of package dyed and space dyed yarn, has announced a major expansion of its current manufacturing operations in Valdese, North Carolina. The company expects the expansion to cost $8 million, according to media reports.

According to the company, the new investment will bring an additional 25 jobs to the 146-member workforce over the next five years. The construction will start this winter on a new 113,000 square feet manufacturing plant, which will be located at the company’s current manufacturing site in Valdese.

The completion of the project, which includes renovations to the company’s existing 152,000 square feet plant, is expected by early winter 2017 and will greatly expand Meridian’s current capabilities.

Meridian which has had operations in Valdese since 1994, has stayed put even as other American companies in the same sector have closed operations or moved overseas over the past eight years.

According to Meridian President Tim Manson, the expansion is a vote for a vibrant US production economy.

“We believe a strong manufacturing base is crucial to the US economy and we will do all that we can to support our customers, our employees and the communities in which we operate,” Manson said. “We are excited about the opportunity this new investment represents for us from a business perspective, and also for the town and for our employees.”

Meridian manufactures and dyes yarn for many industries including home furnishings and upholstery, hosiery, apparel, narrow fabrics, carpets and rugs, sewing thread, craft and industrial textiles.

At the company’s wet processing plant in Valdese, Meridian offers a wide range of yarn dyeing products, including package dyed yarn, three processes of space dyed yarn, top dyed wool, yarn printing and twisting. Today, products made by Meridian Specialty Yarn Group are found in retail and craft stores across the country, and also in carpets, furniture, window treatments, automobiles, tires, socks and more. (SH)

Fibre2Fashion News Desk – India

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