Posted June 2, 2014

 

NEW YORK – Following its board of directors meeting here last week, National Spinning today announced a major capital investment at its Whiteville, N.C., plant, along with board appointments.

 

The investment will enhance and increase production capabilities in technical yarns through modernization and the addition of production equipment at the Whiteville yarn-spinning facility, where 260 people are employed, the company said. A small number of jobs will likely be added as the project is completed, according to a company spokesperson. No other details were available.

 

In addition, National Spinning announced that Linda Fanton, CFO, has been named to a previously unfilled board position. Also, Morgan Miller will remain on the board and assume the role of emeritus chairman of the board and H. Robert Miller will remain on the board and receive the title of vice chairman of the board.

 

“In recognition of Mr. Miller’s outstanding contributions to National Spinning over his 56 years with the company, we honor him with this newly created board title,” said Jim Chesnutt, National’s chairman and CEO. “The company continues to value Mr. Miller’s insight, intelligence, perspective and thoughtfulness as we consider our company’s past and chart its future.”

 

On Bob Miller, Chesnutt noted that his record of service to the company over his 37-year career has taken him into every segment and division of the business.

 

“We recognize his contribution to the company’s ongoing success with this board title,” he said. “We look forward to Bob’s continuing roles both on the board and in company operations.”

 

Commenting on Fanton’s appointment, Chesnutt said: “For more than 15 years Linda has watched vigilantly over our financial health and reporting. Her operational contribution has been invaluable and we welcome her expanded input as board member.”

 

Other board members remain James “Boot” Booterbaugh, company president; Henry “Buster” Humphreys, former president of the National Spinning; Julie Leff; and Chesnutt, chairman and CEO.

 

“With this board of directors in place, we are now extremely confident in National Spinning’s ability to maintain its long record of market leadership, dynamism and operational success,” he said. “I feel great optimism for all the company’s shareholders and trading partners.”

 

National Spinning Co., Inc., an employee-owned company, operates four businesses. National Spinning, LLC produces and distributes yarn for a wide variety of end-uses. Hampton Art, Inc. designs, markets and wholesales consumer products, mainly to craft retailers. Carolina Nonwovens, LLC produces and distributes pads and rolls for automotive, industrial and bedding markets. National Spinning Co., Inc. leases real estate in Washington, N.C.