APublication

EDITOR IN CHIEF James M. Borneman

EXECUTIVE EDITOR Rachael S. Davis

TECHNICAL EDITORS Dr. Lisa Parillo Chapman

Dr. Peter J. Hauser

Dr. Trevor J. Little

Dr. William Oxenham

Dr. Behnam Pourdeyhimi

Dr. Abdel-Fattah Seyam

Dr. Andre West

CONTRIBUTING EDITORS Jim Kaufmann

Stephen M. Warner

INTERNET CONTENT EDITOR Rachael S. Davis

CIRCULATION MANAGER Julie K. Brown-Davis

ADVERTISING BUSINESS MANAGER Denise Buchalter

ART & PRODUCTION MANAGER Julie K. Brown-Davis

OWNER/PUBLISHER James M. Borneman

ADVERTISING REPRESENTATIVES

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ITALY Ferruccio & Filippo Silvera

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ASIA James M. Borneman

+678-483-6102 • jborneman@textileworld.com

INTERNET & CLASSIFIEDS OPPORTUNITIES Julie Davis

+678-522-0404 • jdavis@textileworld.com

PO Box 683155 | Marietta, GA 30068, USA

Telephone +678-483-6102 | www.TextileWorld.com

Elevate Textiles Announces Recapitalization Plan

Charlotte,N.C.-based Elevate Textiles Inc.has announced a recapitalization plan that will strengthen its balance sheet and allow the company to reinvest in its global operations.The transaction, which has the support of all key financial stakeholders, will better align Elevate’s financial foundation with its operational strengths. The company will be owned by a consortium of leading global investment firms,who will appoint a new board of directors. The recapitalization will infuse $100 million of new capital into the company, providing it with the resources it needs to continue to grow.No impact on the company’s global operations is expected.

“We are pleased with the outcome of this recapitalization process which provides an improved balance sheet and reduced leverage to align with the strength and capabilities of our business and brands,” said Sim Skinner,president and CEO,Elevate.

“We appreciate the support of our financial stakeholders who have demonstrated their confidence in Elevate,our business plan,and our future. We look forward to directing our focus on delivering the high-quality service and premium products our customers have come to trust and depend on.”

Foss Installs New Andritz Needleloom

Foss Floors,Rome,Ga., recently installed a new velour needleloom from Austria-based Andritz AG. The new 5.3-meter-wide SDV loom — the second Andritz loom installed by Foss in the past four years — will be used to produce flooring products for a variety of applications from recycled plastic.Foss reports it reuses more than 18 million kilograms of plastic,or the equivalent of 2 billion plastics bottles, each year to make its floor covering products.

“We bought our first velour loom from ANDRITZ in 2019 and have been very satisfied with the operation and performance of the machine as well as the quality of products,”said Kevin Nasser,general manager Operations,Foss Floors.“This was,of course, an important consideration in the choice of supplier for our new investment.We relied on ANDRITZ during a supply chain crisis to deliver a necessary machine on time to fulfill the growing demand for our velour product line.”

Darn Tough Expands Waterbury Plant

In response to increasing demand,Sock brand Darn Tough Vermont®, Northfield,Vt.,recently added 22 new state-ofthe-art knitting machines to its 30,000-square-foot Waterbury knitting mill. The company has also

Glen Raven Restructures Business

Glen Raven,Burlington, N.C.,recently announced a restructuring of the company’s operating framework to improve customer support with programs and strategies customized for each market.A new group,Glen Raven Materials Solutions Group,was established with the Glen Raven’s fabric brands — Sunbrella®, GlenGuard®,Dickson®, Sur Last® and others — combined under this umbrella group.

David Swers was named president of the Glen Raven Material Solutions Group.New business units within the group also were created with the following people leading the new units: Furnishings Business Unit committed to adding more office space.

“Since we opened our second mill (Waterbury),we have increased our capacity significantly,”said Ric Cabot,president & CEO of Darn Tough.“Increased capacity means that we can provide more opportunities for our communities — that makes us proud.”

Avery Dennison Buys Lion Brothers

Avery Dennison,Mentor,Ohio,recently acquired Lion Brothers Inc.,Owings Mills,Md.,a designer and manufacturer of apparel brand identity systems. Lion Brothers is now part of Avery Dennison’s Solutions Group.The deal allowed Avery Dennison to significantly expand its Embelex portfolio,and lets the combined businesses build on their collective industry knowledge and expertise.Lion Brand had revenues of approximately $65 million in 2022 and employs 450 associates.

— Suzie Roberts,vice president/general manager; Shade & Marine Business Unit — Katherine Carter, vice president/general manager;Protective Business Unit — Patti Bates, vice president/general manager;and a fourth business unit based in France,which will be led by Eugene Deleplanque, president/director general, Europe.

Glen Raven’s distribution business,Trivantage®, is not affected by the restructuring and will continue to operate as a stand-alone division within Glen Raven.

In related news,Glen Raven reports a salaried staff reduction of less than 4 percent as a result of challenging economic conditions.

“With a strong presence in North America’s team sports segment and solutions for lifestyle,fashion and promotional apparel brands,Lion fits seamlessly with Embelex,our full-service,end-to-end portfolio for on-product branding, graphics and trims,”said Michael Barton,senior vice president and general manager Apparel Solutions,Avery Dennison. TW