Vol. 31
Eden, N. C. October 9, 1972
$1,117,232 Is
Fieldcrest Mills, Inc. has made an ad-
*^itional contribution of $1,117,232 to
the Pension Trust Fund. This latest pay
ment is one of the largest made to date
to the fund for the payment of em
ployee pensions.
The latest contribution, covering the
year ,1971, brings the value of the Pen
sion Fund to over $26 million.
The Fieldcrest Mills Pension Plan
has been in effect for approximately
To Pension Fund
yhars during which time a total of
2,281 employees have retired under its
provisions. Approximately 12,000 ac
tive employees are currently covered by
the Pension Plan.
During 1971, over 1,300 retired em
ployees were paid pension benefits
totaling $954,000. Currently there are
1,572 employees who are retired and
drawing monthly pension checks.
Pensions for hourly employees are
paid for 100% by the Company, requir
ing no contribution by the employee.
Additional Educational Grants Made
Five additional educational grants
have been made by the Fieldcrest
Foundation to make a total of 15 such
grants -in-aid that have been given
since the program was started in Aoril
Of 1972,
The latest recipients, who received
grants ranging up to $1,000 per year,
^ere; Equilla J. Moyer, Carolyn E.
®rnith, Sara S. Haynes, Teresa E. Fain
®hd Charles Michael Brigman.
, The new program is designed to as
sist the children of employees primarily
in line with their financial need rather
than being on a scholastically competi
tive basis as well as a financial need
basis as in the case of Fieldcrest Schol
arships, also given by the Foundation.
Also, the program recognizes that
many individuals may more profitably
attend technical institutes or take trade
courses rather than attend a four-year
college or university.
It is designed to aid children of em
ployees who wish to attend technical
(Continued on Page Two)
J- R. Mauney Named Division Vice President
JOHN R. MAUNEY, JR.
John R. Mauney, Jr. has been ap
pointed division vice president and
general manager-Karastan rug manu
facturing for Fieldcrest Mills, Inc., re
porting to J. Paul Kitchens, division
vice president-rug and carpet manu
facturing.
Mr. Mauney had been director of tech
nical services in the rug manufacturing
division since 1965 and earlier was
manager of the company’s Nye-Wait
Rug Mill in Auburn, N. Y. for four years.
A native of Shelby, he served in the
Navy hospital corps 1945-1947. He
graduated from Wake Forest Universi
ty with a B.S. degree in chemistry and
biology and later attended North Car
olina State University where he re
ceived a B.S. degree in textile chem
istry and dyeing. He is a member of Phi
Kappa Phi, honorary scholastic frater
nity.
Mr. Mauney joined Fieldcrest Mills
in 1949 as a management trainee and
(Continued on Page Eight)
No. 7
The Fieldcrest Mills Pension Plan is
widely recognized as one of the first
and best in the industry and was es
tablished many years ago when pen
sion plans for production employees
(Continued on Page Eight)
WILLIAM C. BATTLE
W. C. Battle Elected
Director Of Integon
William C. Battle, president and chief
executive officer of Fieldcrest Mills,
Inc., has been elected a director of
Integon Corporation.
In making the announcement, Inte
gon president J. E. Collette said, “We
are delighted that Mr. Battle has ac
cepted our nomination. A man of his
broad experience and business knowl
edge can make a great contribution to
Integon as a member of the board.”
A former U. S. ambassador to Aus-
t.alia, Mr. Battle was the Democratic
nominee for governor of Virginia in
1969, and is the son of the late former
governor, John S. Battle.
A graduate of the University of Vir
ginia Law School, Mr. Battle was a
senior partner in the law firm, of Mc-
(Continued on Page Three)