Culp drops plans to purchase Chinese knitted fabric manufacturer
High Point - US circular knitter Culp Inc has aborted its plans to acquire a Chinese mattress-ticking manufacturer.
Knitting Trade Journal reported in September that, with its new facility in Haiti poised to begin production, mattress fabric specialist Culp Inc. had agreed to buy a Chinese firm as part of a strategy to expand the company's market penetration in China and other parts of the world.
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