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Wellstone & Grupo Karim's to build yarn manufacturing complex

03
May '07
The Wellstone Group and Grupo Karim's announced that they will construct a state-of-the-art yarn manufacturing complex in Honduras. The complex will be a joint venture operation between Wellstone Group and Grupo Karim's.

Wellstone Mills, LLC is a US-based yarn manufacturing division of Wellstone Group which has been supplying yarns from its US plants to a large customer base of well known apparel manufacturers throughout Central America.

The Joint Venture facility will produce 100% cotton yarns and blends in a complex to be built in Honduras. Construction of the physical plant will begin immediately and the company expects to begin shipping yarns from the initial plant by the end of this year.

A spokesperson for Wellstone Group, Mr. Naiden Kremenliev (CFO), stated “Grupo Karim's and Wellstone Group have jointly served the growing Central American customer base through its existing exclusive distribution arrangement. The formation of this Joint Venture is a logical outgrowth of that successful relationship. A yarn manufacturing complex located in Honduras will allow us to serve our growing customer base in a more timely and efficient manor.”

Wellstone Group, headquartered in Greenville, South Carolina, is a diversified textile and uniform manufacturer consisting of three operating units: Wellstone Mills, a spinner of cotton and blended yarns, Wellstone Apparel, a manufacturer of military and commercial uniforms, and Maple Textile, a manufacturer of needle-punch, non-woven textiles.

Grupo Karim's was established in Honduras in 1991 and is a diversified textile and apparel manufacturer, chemical manufacturer, commercial real estate developer and hospitality and tourism operator. The company has facilities in Honduras, Guatemala, Dominican Republic, Mexico, Pakistan and USA.

The Wellstone Group


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