Interviews
News Flash
Bancroft resumes operations to supply army berets
02 Feb '07
1 min read
Bancroft Caps resumed operating its sewing machines from January 30, 2007 to manufacture hundreds of thousands of berets, to be supplied to the army this year. Half of this contract was completed by a US plant last year.
Cabot based firm went bankrupt this month. Defense Department has demanded that company reimburse US $2.9 million paid by military for 3,40,000 berets containing foreign wool. Use of imported wool is against the US Berry amendment.
Final phase of the contract, which will see production of 3,60,000 new berets, could be over this year according to President Barry Goldman. Company will procure raw materials for the berets from Cresent Woolen of Wisconsin in lieu of R M Ott, the previous supplier.
As per a bankruptcy petition filed by Bancroft on January 16, 2007, company has debts worth $4 million inclusive of the amount demanded by army.
Cabot based firm went bankrupt this month. Defense Department has demanded that company reimburse US $2.9 million paid by military for 3,40,000 berets containing foreign wool. Use of imported wool is against the US Berry amendment.
Final phase of the contract, which will see production of 3,60,000 new berets, could be over this year according to President Barry Goldman. Company will procure raw materials for the berets from Cresent Woolen of Wisconsin in lieu of R M Ott, the previous supplier.
As per a bankruptcy petition filed by Bancroft on January 16, 2007, company has debts worth $4 million inclusive of the amount demanded by army.
Popular News
Leave your Comments
Editor’s Pick
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
