US speciality spinners in merger

27 April 2009, Mt. Pleasant, NC – Two US speciality spinners, Tuscarora Yarns Inc. and CloverTex LLC have announced that they will merge their companies and operate jointly under the Tuscarora Yarns Inc. name.

Tuscarora, which has yarn manufacturing facilities in Mt. Pleasant, China Grove and Oakboro, and an international office in Gastonia, North Carolina and CloverTex, which has a manufacturing facility in Clover, South Carolina, are planning for all facilities to continue operation. The companies say that the combining of these two major USA specialty yarn spinners will provide efficiently unified availability and continued innovation for specialty coloured yarns to the USA, Central and South American markets and to the additional worldwide markets they presently serve.

Tuscarora recently constructed a natural yarn spinning facility and the joint entity says it envisions an expanded range of natural specialty yarns to fill the void in the availability of such yarns following the recent closing of two North Carolina located spinning mills.

The newly formed venture also anticipates adding new spinning equipment to considerably enhance its versatility of specialty yarn production and expand the count range that the company presently offers. David M. Roberts, CEO of CloverTex, will become a member of the executive group at Tuscarora Yarns corporate offices in Mt. Pleasant, NC upon finalization of the transaction. Additional information will be made available on completion of the merger, which is expected to be completed in early May 2009.

About CloverTex

CloverTex, LLC, formerly known as Four Leaf Textiles, was established in late 2005 as David Roberts, the CEO of Four Leaf Textiles, purchased the assets of the company and renamed the company CloverTex. The company produces premium ring spun specialty yarns and the focus is toward production of the highest quality product while offering flexibility and responsiveness. Combed cotton heather yarns remain the significant product; however a diversified product offering includes novelty yarns and yarns of various fibres, including rayon and polyester.

About Tuscarora

Tuscarora Yarns has been a reliable spun yarn source for the apparel and textile industry since 1899. Over the past 100 years the company has grown to be the largest manufacturer in the United States of cotton heather and mélange yarns. Both ring spun and open-end equipment are used to produce a very eclectic line of spun yarns of high quality.