Home / Knowledge / News / Textiles / Parkdale acquires full stake in Mexico based Summit Yarns
Parkdale acquires full stake in Mexico based Summit Yarns
29
Sep '14
Gastonia and US-based, Parkdale Mills has acquired the rest and in turn the whole stake in Summit Yarns, located in Mexico.

Since 1997, Parkdale Mills has had a 50% stake in Summit Yarns, which is a joint venture with the International Textile Group (ITG).

“Summit has been a key supplier to the Cone Denim Yecapixtla plant of ITG and will continue to supply yarn in future too”, a statement from Parkdale said.

“Our partnership with ITG has been robust and our partnership has strengthened as an outcome of the new agreement,” Dan Nation, President of Parkdale International, said.

Both the parties have not disclosed the financial terms of the agreement.

One of the biggest producers of spun yarns in the world, Parkdale has 29 manufacturing plants in the US, Central America, Mexico and South America.

Parkdale said it will also double capacity at Summit Yarns which employs around 350 people in two phases.

Phase one will entail adding open-end spinning capacity and the second phase will also see addition of state-of- the-art ring spinning facility. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Apparel/Garments | On 25th Mar 2017

Net sales at Christopher & Banks fall 10% in Q4

Net sales totalled $85.0 million for the fourth quarter ended January ...

Courtesy: Li & Fung

Textiles | On 24th Mar 2017

Li & Fung forms new supply chain partnership with PVH Corp

Li & Fung Limited, the world's leader in consumer goods design,...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search