I
M
THE MILL WHISTLE
Vol. 32
Eden, N. C., October 22, 1973
No. 7
20th Anniversaiy Reflects Fieldcrest’s Growth
The General Offices building is headquarters for the company’s overall operations in
cluding 26 plants in five states and employing over 12,000 persons.
The building houses the Executive Offices and the following departments: Engineering,
Finance and Accounting, Industrial Relations, Purchasing and Industrial Engineering. The
Medical Department also is located here as part of the Industrial Relations Department.
Battle Says:
The 20th anniversary of
Fieldcrest Mills, Inc., highlights
the spectacular progress made
since the new ownership took
over in 1953.
The story of the Company’s
growth and progress is filled
with outstanding facts such as
the increase in yearly sales from
$39,000,000 to $244,080,849; in
creases in plants from 10 to 25;
growth of payrolls from
$13,615,000 to $81,270,000 a year;
and the increase in square feet
used for all operations from
2,573,435 to 8,175,655.
The newly-formed cor
poration, Fieldcrest Mills, Inc.,
on October 1,1953, purchased the
textile manufacturing business
and properties owned and
operated by Marshall Field &
Company for over 40 years.
The new owners began a
program of modernization and
expansion, including
acquisitions of other companies
and mills and the construction of
several new plants. The story of
growth and progress is con
tinuing to the present time.
$122 Million In Capital
Fieldcrest Mills, Inc., has
made capital expenditures
totaling over $122 million since
purchasing the mills.
These huge expenditures have
been made to expand and
modernize the plants and
equipment to meet present and
future needs of consumers, to
improve efficiency and the
Company’s competitive position
in the industry, and to maintain
leadership in product styling and
quality.
The present-day Fieldcrest
Mills, Inc., operates 25 plants in
five states, provides jobs for
nearly 12,000 employees, and
pays them a total of over $81
million a year. The Company
has achieved a national
reputation as one of the leading
designers, manufacturers, and
marketers of high-style, quality
textile products for the home.
In its 20 years of ownership,
Fieldcrest Mills, Inc., has
acquired or built 21 additional
mills in various parts of the
country, the first acquisition
being that of the St. Marys
Woolen Manufacturing Com
pany of St. Marys, Ohio, bought
in 1957.
The St. Marys mill sub
sequently was consolidated with
the Blanket Greige mill and
finishing mill at Eden, resulting
in the addition of approximately
200 jobs at those plants.
Next to be acquired was the
Nye-Wait Company at Auburn,
N.Y., making high quality
Wilton broadloom carpet,
purchased in 1958.
Automatic Blanket Plant
The Automatic Blanket Plant,
a modern new facility, began
(Continued on Page Seven)
'Progress Due To People $20 Million Capital
The following comments are
excerpted from a discussion by
William C. Battle, President of
Fieldcrest Mills, Inc., on a wide
range of topics in connection
w>*h the Company’s 20th an
niversary this month:
Company’s Achievements
“Let’s take the achievement of
Fieldcrest over the 20-year
period. I think that by far the
most significant achievement is
to have moved from a compara
tively small textile manufac
turer to one that is recognized
throughout the world as the
premium name in style and in
quality in those products which
we make. I think to have done
that in 20 years is fantastic and
attests to the dedication, the
ability and the quality of the
people that have been working
here and have made Fieldcrest
what it is.
William C. Battle, presi
dent of Fieldcrest Mills, Inc.,
speaks informally about the
company’s past accomplish
ments, present position and
future goals. He attributes
the continuing success of
Fieldcrest to ‘the quality of
its people’.
Program For 1973
Undergirded by 20 years of
solid accomplishment, Field
crest Mills, Inc., may be ex
pected to continue the dramatic
growth and progress that has led
to national
Employees Responsible For
Growth
In piking about Fieldcrest’s
enormous growth in the past 20
WILLIAM C. BATTLE
years, I would like to go even
further and say that the quality
of the people that the Company
employs in the manufacturing
end, in the sales force and in the
office staff has contributed more
to this growth than any other
factor. This Company has
(Continued on Page Three)
Fieldcrest's 20-Year Growth
1953
Sales $39,000,000
Plants 10
Employees 4,801
Payrolls $13,615,000
Insurance Benefits Paid $237,840
Paid To Pensioners $130,000
Persons Receiving
Pensions 361
Current Value of
Pension Trust $6,667,000
City And County Taxes
Paid (Eden Area Only) $207,000
Square Feet
(All Operations) 2,573,435
1972
$244,080,849
25
11,776
$81,270,000
$3,743,718
$1,030,825
1599
$34,170,000
$874,000
8,173,655
the company
prominence.
Proof of Fieldcrest’s intention
to continue to expand and im
prove on an important scale is
seen in the fact that the Board of
Directors in 1972 approved in
principle a five-year program of
expansion and modernization
that will significantly affect the
long-range profitability of the
company.
Specific projects were ap
proved which will result in
capital expenditures of ap
proximately $20 million in 1973.
Major commitments for the
current year include expansion
of towel and carpet manufac
turing facilities.
Largest elements in the
capital program are the ex
pansion of the Fieldale and
Columbus towel production
facilities including the con-
(Continued on Page Eight)