American & Efird to purchase thread maker
June 23, 2016
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.