With the acquisition of Wade Manufacturing Company’s yarn spinning and weaving facility located in Rockingham, North Carolina, Mount Vernon Mills will be vertically integrated from yarn production to finished fabric in certain products and will be in greater control of the company’s supply chain.
“The Rockingham facility is a modern, cost-efficient operation with an experienced and stable workforce, making it a great fit as we increase the amount of control that we have over our yarn supply, weaving operations and overall costs,” says Bill Duncan, CEO of Mount Vernon Mills. “We are also proud to expand our footprint in the US and build upon our made in America commitment and heritage.”
Mount Vernon Mills plans to hire substantially all the current workforce in the Rockingham facility and may look to add additional positions in the future to bring the plant to full capacity. Initially, the Rockingham facility will produce open-end spun yarn for Mount Vernon Mills and woven greige goods for the company’s flame-resistant (FR) products.
“The acquisition not only adds stability to Mount Vernon’s supply chain, but it also adds stability to the workforce located here in the Rockingham community,” adds Bernie Hodges, CEO of Wade Manufacturing. “We know that our employees will be well taken care of and that they will continue to carry on the rich traditions of the US textile industry.”
The transaction is expected to close in early February and financial terms were not disclosed.
Headquartered in Mauldin, Mount Vernon Mills has about 2,400 employees and operates six production facilities in the US, located in North Carolina, South Carolina, Georgia, and Mississippi. Products include denim for Wrangler’s Made-in-USA denim collection, piece dyed and flame-resistant fabrics for apparel, pocketing, textile sizing and finishing chemicals.