THE MILL WHISTLE
Vol. 36
Eden, N. C., Monday, May 8, 1978
No. 20
Two New Directors Elected
^ieldcrest Has Record Earnings For Fourth Year
HENRY WHEELER
Fieldcrest Mills, Inc. announced at its annual meeting on April 25, in
New York City record first quarter sales and earnings for the fourth con
secutive year.
William C. Battle, president and chief executive officer, told the share
holders net earnings for the quarter rose 40% to $3,837,000 ($1.02 per
primary share) from $2,749,000 ($.74 per primary share) for the first
three months of 1977. The record performance was achieved on a 15%
increase in sales which were $95,792,000 compared to $83,088,000.
Battle observed that while sales were ahead of 1977 in each of the
months of the quarter, “business momentum’’ slowed somewhat in
February but forged ahead strongly at the end of March and the surge
is continuing into the second quarter.
“Our unfilled order position is approximately 70% ahead of last year
and this encourages us to be optimistic about prospects for the balance
of the year.’’
Fieldcrest stockholders elected two new directors — John Merrill
Rudel of Montreal, president of Rudel Export Ltd., machine tool export
ers; and Henry Wheeler of Weston, Massachusetts, a partner in the Bos
ton law firm of Hutchins & Wheeler.
JOHN RUDEL
Fieldcrest No. 443 In Fortune 500
Fieldcrest Mills, Inc. moved up from number 480 in 1976 to number 443
for 1977 in Fortune Magazine’s annual listing of the 500 largest industrial
corporations in America. The ranking is based on the company’s'sales for
1977 which were $416,860,000.
Jackson Joins Board Of Directors
Of Crossley Karastan Carpet Mills
fieldcrest Decorates
Home and Wardrobe
foundation Awards
^ew Scholarships
Krantz Joins
|sjp-Year Club
p. 3
p. 4
p. 8
Arthur L. Jackson, senior vice
President-Manufacturing of Field
crest Mills, Inc., has been elected a
member of the Board of Directors of
Crossley Karastan Carpet Mills Ltd.
Crossley Karastan is jointly own
ed by Carpets International Ltd. of
Great Britain and by Fieldcrest
Mills, Inc.
The announcement was made at
Crossley Karastan’s headquarters
in Toronto, Canada. The firm’s
manufacturing facilities are located
in Truro, Nova Scotia.
Mr. Jackson has been with Field
crest since 1948 when he joined the
company as a staff assistant-Re-
search. He became a management
trainee in 1949 at the old Synthetic
Fabrics Mill and since that time has
held various managerial positions.
He was named vice president-Manu-
facturing in 1972 and senior vice
president in 1973.
As member of the Board of
Directors of Crossley Karastan, Mr.
A. L. JACKSON
Jackson will be able to advise the
firm’s manufacturing and market
ing divisions on programs and
policies.
Crossley Karastan produces tuft
ed and woven carpets and rugs at its
Truro mill, including products made
on the Kara-Loc loom developed by
Karastan in the United States.