Barwick, Smith Buy Shuford Yarns
October 9, 2006
HICKORY, North Carolina — L. Allen Barwick and Marvin Smith have purchased the coarse count polyester and cotton yarn manufacturing and sales business from Shuford Mills Inc.
The new company is known as Shuford Yarns LLC. It is owned in part by Shuford Mills and members of the new management team, including Allen Barwick -- the previous Shuford Mills president -- and Marvin Smith, the previous sales manager.
C.P. Davis has been named president of Shuford Mills Inc. to replace Barwick.
As part of the deal, Shuford Yarns LLC has agreed to purchase the two yarn manufacturing plants from Shuford Mills.
The announcement was made by Pope Shuford, STM Industries Inc. chairman. Barwick will serve as president of Shuford Yarns LLC, and Shuford will sit on the board of directors.
Shuford Mills is owned by STM Industries Inc. and will continue to produce Outdura® fabrics.
The new company is known as Shuford Yarns LLC. It is owned in part by Shuford Mills and members of the new management team, including Allen Barwick -- the previous Shuford Mills president -- and Marvin Smith, the previous sales manager.
C.P. Davis has been named president of Shuford Mills Inc. to replace Barwick.
As part of the deal, Shuford Yarns LLC has agreed to purchase the two yarn manufacturing plants from Shuford Mills.
The announcement was made by Pope Shuford, STM Industries Inc. chairman. Barwick will serve as president of Shuford Yarns LLC, and Shuford will sit on the board of directors.
Shuford Mills is owned by STM Industries Inc. and will continue to produce Outdura® fabrics.
