Joan Fabrics Signs Agreement to Purchase Texel

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...