Tyngsboro, Mass. (USA) - Joan Fabrics Corporation has signed a purchase and sale agreement with Pliana Holdings, S.A. de D.V. to acquire Industrias Texel S.A. de C.V. in Tlaxcala, Mexico.

The factory currently produces woven jacquard fabrics for the decorative markets in Mexico.

Joan Fabrics chairman Elkin McCallum said the acquisition would allow the company to expand its business in the NAFTA trading region. ''In addition, having low cost manufacturing capability with Mexico's proximity to the United States offers our customers some unique options.

''Our plans call for this to be an expansion of our existing business not a consolidation. We intend to retain and market the Texel name and will add it to our family of products worldwide.''F&FI