Company Comes To An End
The textile companies and plants owned and operated in full or in part by the Cone family were Revolution Cotton Mills, Asheville Cotton Mills, Minneola Manufacturing Company, Salisbury Cotton Mills, Cliffside Mills, Eno Cotton Mills, Granite Finishing Works, Tabardrey Manufacturing Company, Florence Mills, John Wolf Textiles, Olympic Products, and American Spinning Company.
The company went private again in 1983 with the threat of a takeover by Western Pacific Industries. At the time the company had twenty-one plants and 10,800 employees. The company then had a value of $385 million. In 2003, Cone Mills Corporation filed for Chapter 11 bankruptcy protection. By 2004, all of Cone's assets had been acquired by W. L. Ross and Company and were then combined with what remained of Burlington Industries to form International Textile Group.
Read more about this topic: Cone Mills Corporation
Famous quotes containing the word company:
“... possibly there is no needful occupation which is wholly unbeautiful. The beauty of work depends upon the way we meet it—whether we arm ourselves each morning to attack it as an enemy that must be vanquished before night comes, or whether we open our eyes with the sunrise to welcome it as an approaching friend who will keep us delightful company all day, and who will make us feel, at evening, that the day was well worth its fatigues.”
—Lucy Larcom (1824–1893)