Newspapers / The Fieldcrest Mill Whistle … / Sept. 30, 1968, edition 1 / Page 6
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Growth Marks Fieldcrest’s 15 Years (Continued from Page One) has achieved a national reputation as one of the leading designers, manu facturers and marketers of quality tex tile products for the home. Since purchasing the Marshall Field properties in 1953, Fieldcrest Mills has acquired 16 additional mills in various parts of the country, the first acquisi tion being that of the St. Marys Woolen Manufacturing Company, of St. Marys, Ohio, bought in 1957. The St. Ma^s mill subsequently was consolidated with the blanket griege mill and finishing mill at Eden, resulting in the addition of approximately 200 jobs in those plants. In 1958, Fieldcrest acquired the Nye- Wait Company at Auburn, N. Y., mak ing high-quality Wilton broadloom car pets, an operation complementing that of the Karastan Rug Mill. In June, I960, Fieldcrest’s Automatic Blanket Plant, a modern, new facility at Smithfield, began operations; and in August, 1960, the Company purchased the Greenville Mills at Greenville, which became the Karastan Spinning Mill. Acquisitions in 1963 were the Kim berly Yarn Mills, Inc., in Mount Holly, which became the Mount Holly Spin ning Mill; and the Muscogee Manu facturing Company, Columbus, Ga., now the Columbus Towel Mill. The Colum bus plant, which manufactures both towels and mattress ticking, is one of the largest towel mills in the world. In a major acquisition effective June 27, 1964, Fieldcrest purchased the plants and inventories of the North Carolina ’m 15th Anniversary || Fieldcrest Mills, Inc. m li October 1, 1968 |i Finishing Company at Salisbury; the Alexander Sheeting Mill, Forest City; the Leward Sheeting Mill, Worthville; and Camac, a converting operation based in New York. Fieldcrest, in October, 1964, purchased John P. Maguire & Co., Inc., New York City, a factoring firm offering such services as accounts receivable financ ing, non-notification financing, floor plan financing, and the financing of the sale, purchase or leasing of production equipment. The Maguire company is operated as a wholly-owned subsidiary. January 1, 1967, Fieldcrest Mills, Inc. purchased the operating assets of Mor gan Carpet Mills, marking the entry of the Company into the tufted carpeting business. This new plant, modem in every way, was established at Laurel Hill in 1965. It is now the Laurelcrest Carpet Plant of Fieldcrest Mills, Inc. Also early in 1967, Fieldcrest acquired the Winchester Spinning Corporation, a woolen Spinning plant at Asheville, and converted the equipment to the spinning of carpet yarns. In addition to the above, which were acquired outright, the Company pur chased half the stock of the Delaware Valley Wool Scouring Co., Philadelphia, in 1961, and half the stock of Foremost Screen Print, Inc., Garfield, N. J., in 1962. Both of these firms are now wholly owned by Fieldcrest. The Philadelphia plant scours all raw wool for the Karastan Spinning Division and the Winchester Spinning Corpora tion and also does commission scour ing. Foremost Screen Print, Inc., for many years was a large supplier of screen printing to Fieldcrest’s domestics mills. Foremost subsequently moved all of its operations from Garfield, N. J., to a new and modern plant at Stokes- dale. In July, 1963, Fieldcrest Mills, Inc., formed a jointly-owned company with John Crossley-Carpet Trades Holding, Limited, of England, to build and op erate a new plant at 'Truro, Nova Scotia, making high-quality rugs and carpets. Other significant developments have been the construction of a new general offices building at Eden, construction of Fieldcrest Stores at Eden and Columbus, Ga., to display and sell all lines of do mestics products made by the Company, and numerous plant improvements, in cluding the air conditioning of many manufacturing areas. A major part of the capital expendi tures in recent years has been for ex pansion of the capacity of the Karastan Rug Mill, expansion and improvement of sheet production facilities, and con struction of the Karastan Service Cen ter, and the Bedspread and Sheet Fin ishing Mills. Evidence of the growing importance of Fieldcrest can be seen in the fact that the Company is listed in Fortune Magazine’s annual directory of the 500 largest U. S. industrial corporations and has moved up from 486th to 399th based on 1967 sales. Fieldcrest remained a closed corpora tion until 1962, when its stock was first sold to the public. The Company was admitted to trading on the New York Stock Exchange in December, 1965, and currently has over 3,600 shareowners living in virtually every section of the country. Copyright, 1»68, Fieldcrest Mills, Inc. Edtn, N. C. 27288 Issued Every Other Monday For Employees and Friends of Fieldcrest Mills, Inc. OTIS MARLOW/E EDITOR Member, South Atlantic Council Of Industrial Editors Vol. XXVII Mon., Sept. 30, 1968, No. 6 i^^ERVICE ^ANNIVERSARIES Thirty-Five Years Shepherd Sharpe Karastan Lula L. Roberts Karasta Thirty Years Clara H. Wilson Sheeting Mary T. Winn Towel Twenty-Five Years Lottie E. Calhoun Finishing Clifton E. Spencer Towe‘ James E. Martin Central WnsS' Bessie C. Letlow Columbus Twenty Years Velva T. Smart Blanket Willie T. Berkley Karastan Wilford J. Overby Pearline K. Robertson * n Mack C. Brannock Karasta Fifteen Years Edna Holder Fieldcrest Sa^ Irvin N. Millner Karastai Dewey Hairston Bleachf J Joseph D. Ethridge Finishing Troy C. Carter Calie R. Hall Towe Henry Lee Moyer, Jr Karasta Ten Years , Evelyne F. Setliff ToW® J. William Belcher William E. Arnold ToW^ Nathan B. Phillips ColumbU’ Vernon L. Vanhoy General Offic®. H. Estridge Reynolds ToW® Kenneth D. Washburn Karasta’ Rolland H. Allen Specia* Otelia P. Bailey General Offi®®, Uel A. Edens Bedspre® Lonnie G. Lawson Bedspre® Daisy E. Nicholson Colum^ ag@s And Benefits Show Big increases (Continued from Page One) manufacturing employees now pays a room allowance of $25 a day, compared with $7.50 a day in 1953. There have been corresponding improvements in other parts of the plan. In recent years, the minimum amount of life insurance under the group plan has been increased to $5,000, compared with $1,000 in 1953. The minimum weekly Accident and Health benefit for manufacturing employees was increased from $10 in 1953 to $35 at present. New features added to the group life insurance program include Dependent Life, providing life insurance for the employee’s wife or husband and d®^ pendent children; Accidental Death Dismemberment insurance paying doU^ ble indemnity for accidental death specified payments in the event of bodi > dismemberment, and Supplemental A® cident insurance of up to $300 coyeriU employees and their dependents in event of off-the-job accidents not ” quiring hospitalization. j In benefits, wages, tax support a” all areas affecting people, employ®^ of the company and the communib they live in have shared in the pr® perity generated by the company’s sU cessful operations. THE MILL WHISTT $
The Fieldcrest Mill Whistle (Spray, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Sept. 30, 1968, edition 1
6
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