International Textile Group Inc
International Textile Group, Inc. is a global, diversified textile manufacturer
headquartered in Greensboro, North Carolina, with operations in the United States,
Mexico, and China. The Company believes it is one of the world’s largest
and most diversified producers of denim fabrics and the largest producer of
better denim fabrics for products distributed through department stores and
specialty retailers. In addition, the Company believes it is one of the largest
worsted wool manufacturers and commission printers and finishers in North America,
and is a leading developer, marketer and manufacturer of performance synthetic
apparel fabrics, automotive safety fabrics, technical and value added fabrics,
contract fabrics for interior furnishings, and other textile products used in
a variety of niche industrial and commercial applications. ITG’s long-term
focus includes realizing the benefits of its global expansion, including reaching
full production at the Company’s facilities in China
The Company, a Delaware corporation incorporated in 1994, was formerly known
as Safety Components International, Inc. (“SCI”). The Company combined
with a company formerly known as International Textile Group, Inc. (“Former
ITG”) in October 2006 (the “Merger”) in a negotiated transaction.
Upon completion of the Merger, SCI changed its name to “International
Textile Group, Inc.”
Former ITG was formed in August 2004 by certain entities affiliated with WL
Ross & Co. LLC, our controlling stockholder (“WLR LLC”), to
consolidate the businesses of leading textile and fabric manufacturers, including
Burlington Industries, Inc. (a manufacturer of textile products for apparel
and interior furnishing products) and Cone Mills Corporation (a manufacturer
of textile products, primarily denim, for apparel and interior furnishing products).
ITG’s strategy is to be the preeminent global supplier of solution-based,
value-added performance products and services for the textile supply chain.
Combined with capabilities in the U.S., Mexico and China, the Company’s
facilities are a key part of the Company’s comprehensive global supply
chain solution that is intended to allow the Company to seamlessly supply products
and related services to customers worldwide. We believe geographically aligning
with our customers is a critical component of our success.
The Company is organized and managed primarily according to product categories
and manufacturing processes rather than by markets or end-use customers. The
Company currently has four operating segments that are reported to the chief
operating decision maker (“CODM”) and three reportable segments
that are presented herein. The reporting of the Company’s operations to
the CODM in four segments is consistent with how the Company is managed and
how resources are allocated by the CODM.
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