Cone Mills Corporation - Company Changes Name

Company Changes Name

In 1945 the company merged all its separate mill properties into the Proximity Manufacturing Company. The manufacturing companies, mills, and various subsidiaries owned by the Cones underwent a major reorganization in which the separate business operations of Proximity Manufacturing Company (including Proximity Cotton Mills, Proximity Print Works, White Oak, and Granite), the Cliffside Mills (including the Cliffside and Haynes plants), the Florence Mills (including American Spinning Company), Minneola Manufacturing Company, Salisbury Cotton Mills, Tabardrey Manufacturing Company, and Cone Export & Commission Company, were all reorganized.

Then in 1948 another major merger occurred. Revolution Mills and Proximity Manufacturing Company was consolidated and named Cone Mills Corporation. In 1950 the company announced a merger with the twill and drill manufacturer Dwight Manufacturing Company of Alabama. The following year it purchased the company outright, being the same year the Corporation went public trading on the New York Stock Exchange.

Cone Mills Corporation in 1952 purchased the Union Bleachery of Greenville, South Carolina. They then gained the first license for the sanforizing process granted in the United States.