Modernization Issue - ‘Open House’ Fieldale, April 30; Tri-Cities, May 2
SHEETS . TOWEIS .BEDSPREADS . BLANKETS • EIECT«IC IIANKITS . KARASTAM R UO-S • S YNTH E T 1C FABRICS
MILL WHISTLE
Published lif FiBldcrest Mills, Inc. • Plants located in Spray, Draper and leahville, H. C. anil Fieldale, Va.
VOL. XIV
Spray, N. C., Monday, April 30, 1956
NO. 21
Five And Half Million For Modernization
Fieldcrest And The Future
This week we open our mills to our employees and fellow
citizens of the communities in which our plants are located. As we
welcome our neighbors and friends to see our various mil s an
operation, I am confident all of our employees share the pride
which our officers and management group justifiably feel in the
many splendid improvements which have been made in our mach
inery and equipment since the new Fieldcrest came into being-
We all know, in a competitive industry like ours, that our hope
of success lies in continually modernizing and improving th^ tao^s
with which we work. I think the confidence ^
ers of our business have in us is demonstrated by one-half
have chosen not to receive any dividends in the
years since they purchased the mills. In
meager profits we have earned in the business, t y P , ,
tTe additional capital to help pay for the many improvements to
the various mills in recent months.
In addition to these past expenditures ^^ToHare for^^e^c^^^
additional improvements of nearly mim^^ based upon
rent year. The investment of these addi^^^
their confidence in our employe g intend to cooperate
the community and in their belief t Company competitive
fully in every reasonable way to make our ooiuya
and profitable. .
The textile industry is known ^^ill not Se^similar
past, and I. see no reason to ^ssu e fortune will vary
conditions in the future. sometimes better and some-
with economic conditions gener y,^ long-term our
SuleToXbShL^Tan ft has in man, years.
Our sales and manufacturing our products
Strengthened m many ways, a operate more efficientiy
whose?km?nd Salty and cooperation make Fieldcrest the won
derful institution it is today.
/
President
‘Open House’ Visitors
To See New Equipment
Fieldcrest has announced major points
in a $51/2 million modernization program
begun early in 1954 and already costing
$31/2 million for improvements at the
various mills. An additional $2 mil
lion has been authorized for the re
mainder of 1956.
With the $5% million to be spent by
Fieldcrest Mills, Inc., since the new com
pany purchased the mills in October
1953, a total of $14,500,000 will have
been invested in modernization in a 10-
year period.
The current program is directed to
more efficient production rather than
to expansion. During the period from
early 1954 only about $250,000 was for
additional construction. The major part
of the expenditures has been for new
machinery.
A breakdown of the program shows
greatest concentration on yarn making
facilities although considerable expend
itures were made for new looms and
new slashers at three plants.
E. W. Medbery, vice president in
charge of manufacturing, estimated
that funds were spent as follows: 45 per
cent for yarn manufacturing; 30 per cent
for weaving; 15 per cent for finishing,
including new nappers; 10 per cent for
auxiliary equipment including materials
handling devices.
Open House Program
The public will have an opportunity
to see the new equipment and other im
provements during the open house pro
gram this week. Posters will be shown
at the machines indicating the name of
the machine and its cost. The Towel Mill
will be open to visitors Monday, April
30. All of the mills in the Tri-Cities will
hold open house Wednesday, May 2. The
visiting hours will be from 1 p. m. to
9 p. m. at each location.
Employees are invited to visit any or
all of the mills and are invited to bring
members of their families and friends
with them.
A total of 38 door prizes, including a
3x5 Karastan rug, electric blanket, all-
wool blanket, tablecloths, bedspreads
and sheet and towel sets will be given.