Cleaning & Restoration Breaking News

The Dixie Group Sells Yarn Production Plant to Shaw

December 9, 2003
/ Print / Reprints /
/ Text Size+
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Dec. 5, 2003--The Dixie Group, Inc. today announced that it had executed a definitive agreement to sell its Ringgold, Georgia, spun carpet yarn production facility to Shaw Industries Group, Inc. for a cash purchase price of approximately $6.7 million.

Proceeds from the sale, plus funds generated from working capital reductions, will be used to reduce debt under the Company's Senior Credit Agreement. While specific terms of the agreement were not disclosed, Dixie said the sale, which is subject to normal contractual contingencies, was expected to be completed within the next six weeks. Approximately 300 associates are employed in this facility.

The transaction is not expected to result in a material net gain or loss. Commenting on the sale, Daniel K. Frierson, Chairman of the Board of The Dixie Group, observed, "We expect completion of the sale will further strengthen our balance sheet and permit us to continue growing our higher-end carpet businesses."

The Dixie Group is a leading carpet and rug manufacturer and supplier to higher-end residential and commercial customers serviced by Fabrica International, Masland Carpets and to consumers through major retailers under the Dixie Home name.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.



Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.


Have a limited marketing budget but realize the importance of neighborhood marketing? Try doorknob hangers, a low-cost, yet highly effective way to drum up more business. In this episode, John Braun discusses the value of this tactic as well as what you should include on the materials you're hanging.
More Podcasts

ICS Cleaning Specialist Magazine


2014 September

The September issue of ICS features stories on moisture detection, disinfectant services, neighborhood marketing, then we discuss the last level of being phenomenal, and cool products.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive


Get Paid! book cover
Get Paid! (ebook)
Over 30 authors – over 40 articles…from attorneys, contractors, consultants, instructors and others, both inside and outside the restoration industry. R & R, C & R and Cleanfax, opened their archives and gave us the best they had, other chapters were created just for the “Get Paid!” book and its readers. And every one of them has ideas for how to get paid what you are owed.

More Products


Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view


Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view


facebook_40.png twitter_40px.png youtube_40px.pngcrc logo