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Angelica to cease operations in Ballston Spa
11 Aug '10
2 min read
Angelica Textile, has grown over the years, and with its mergers and acquisitions in today's problematic financial system, has badly affected the Ballston Spa village. The company that launched its operations in the village in 1977 is now going to cease its operations there, on September 16.
The company was instituted in 1878, as Cherubino Angelica and it had come out with its first uniform which was a railroad chef's coat. The Missouri based company now has 5,900 people working with it across 27 locations in the country.
The company is set to merge the operations of its plant at Ballston Spa village with a bigger plant on long island, which apart from being closer to New York City market, also holds an added capacity, wherein the company is citing an increase in demand.
As revealed by company officials, they were required to cover longer distances with their products, and instead of spending much on revamping the Ballston Spa facility, they rather decided upon an alternative path i.e. to merge the two facilities.
As stated by the reports, total earnings of Angelica for 2009 stood at $435 million. Angelica, which initially used to be a publicly held company, was acquired by Lehman Brothers Merchant Banking in 2008 at a cost of $310 million.
The company was instituted in 1878, as Cherubino Angelica and it had come out with its first uniform which was a railroad chef's coat. The Missouri based company now has 5,900 people working with it across 27 locations in the country.
The company is set to merge the operations of its plant at Ballston Spa village with a bigger plant on long island, which apart from being closer to New York City market, also holds an added capacity, wherein the company is citing an increase in demand.
As revealed by company officials, they were required to cover longer distances with their products, and instead of spending much on revamping the Ballston Spa facility, they rather decided upon an alternative path i.e. to merge the two facilities.
As stated by the reports, total earnings of Angelica for 2009 stood at $435 million. Angelica, which initially used to be a publicly held company, was acquired by Lehman Brothers Merchant Banking in 2008 at a cost of $310 million.
Fibre2Fashion News Desk - India
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