Burlington Industries to Sell 2 Units
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GREENSBORO, N.C. — Burlington Industries Inc. announced Wednesday that it has signed definitive agreements for the sale of its two European businesses, which have manufacturing operations in Ireland and Italy.
Burlington said it has agreed to sell Burlington Sportswear Fabrics Limited to Royal Nijverdal-Ten Cate NV of the Netherlands. It said it has also agreed to sell Klopman International S.p.A. to Dominion Textile of Canada.
Terms of the deals were not disclosed, but the announcement said the financing necessary to complete the transactions was committed to the buyers by financial institutions.
The sales are subject to approval by the Irish and Italian governments.
Burlington Sportswear Fabrics Limited is one of Europe’s largest manufacturers of denim fabrics for men’s, women’s and children’s wear. It has plants at Longford and Tullamore, Ireland.
Ten Cate, a diversified manufacturer of textile and plastic products, is headquartered in Almelo, the Netherlands. It has extensive operations in the Netherlands and in other countries.
Klopman International S.p.A. is the leading European producer of finished polyester-cotton fabrics for the uniform, leisure wear and active wear markets. It has plants in Frosinone, Italy, and in Tralee and Gillope, Ireland.
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