ITG Integrates Burlington, Cone
August 5, 2004
GREENSBORO, N.C.— Burlington Industries and Cone Mills have been fully integrated into the International Textile Group (ITG) owned by WL Ross & Company.
In addition, a five year, $150 million credit line has been approved by Bank of America, GE Capital Corp. and The CIT Group according to Wilbur Ross, chairman.
ITG now owns Burlington House and Cone Jacquards with sourcing offices in China, Pakistan, Australia, Turkey and Lebanon. This includes fabric for residential and contract applications. ITG also owns Carlisle Finishing, a U.S. dyeing, printing and finishing business and Nano-Tex, LLC, an advanced materials company which supplies products used by 50 plus textile mills.
In November, corporate offices for ITG will move to the previous headquarters building of Cone Mills here.
In addition, a five year, $150 million credit line has been approved by Bank of America, GE Capital Corp. and The CIT Group according to Wilbur Ross, chairman.
ITG now owns Burlington House and Cone Jacquards with sourcing offices in China, Pakistan, Australia, Turkey and Lebanon. This includes fabric for residential and contract applications. ITG also owns Carlisle Finishing, a U.S. dyeing, printing and finishing business and Nano-Tex, LLC, an advanced materials company which supplies products used by 50 plus textile mills.
In November, corporate offices for ITG will move to the previous headquarters building of Cone Mills here.