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American & Efird to purchase thread maker

June 23rd, 2016 / By: / Industry News

American & Efird to purchase thread maker

June 23, 2016

June 23rd, 2016 / By: / Category: Industry News

Source: Specialty Fabric Review

American & Efird, Mount Holly, N.C., the largest U.S. manufacturer of industrial and consumer thread, embroidery thread and technical textiles, is acquiring a majority ownership of India’s largest thread maker, Vardhman Yarns and Threads Ltd. from its joint-venture partner, Vardhman Textiles Ltd. When the purchase is complete, American & Efird will own 89 percent of the venture and Vardhman Textiles will own the other 11 percent. The acquisition will help the company meet the demand for high-quality products in India and increasing international demand for Indian exports.