Quaker Fabric signs sourcing & distribution deal with Daewoo

16 Feb '06

2 min read

Upholstery fabric manufacturer Quaker Fabric Corporation has informed the signing of a sourcing and distribution agreement with Daewoo International, a Korean manufacturer of velvet and microdenier sueded fabrics for the furniture industry.

Larry Liebenow, Quaker's President and CEO said, "This deal augments the much broader strategic agreement we signed last month with Hangzhou Zhongwang in China and represents another step in our overall strategy to generate incremental sales by putting a limited number of complementary offshore sourcing programs in place.

Teaming up with Daewoo is important to us because, for the past several years, imported leather and microdenier sueded products have been costing us substantial sales and share in the domestic market. This is our chance to recapture at least a portion of that business by merging our domestic and international distribution capabilities with Daewoo's production capacity and manufacturing expertise in the velvet and microdenier suede categories - which we cannot do from our Fall River, Massachusetts base."

"At the same time we are committed to strengthening and growing the business we generate out of our Fall River production facilities and we are continuing to design lots of fabrics for the domestic and international residential markets with that in mind. We have also launched a number of initiatives, such as our new outdoor fabric and contract furniture programs, which are intended to build our revenues by leveraging our technological expertise to expand the markets we serve," Liebenow added.

Quaker Fabric Corporation is a leading manufacturer of woven upholstery fabrics for furniture markets in the United States and abroad, and the largest producer of Jacquard upholstery fabric in the world.

Quaker Fabric Corporation

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