Fab explores possibility of sale. (Fabrics Today).(Fab Industries)(Brief Article)

Home Textiles Today, December, 2001

NEW YORK -- It's rare that a company puts itself up for sale because it has too much money. But that's what's happening with Fab Industries. In an announcement earlier this month, the producer of warp and circular knit fabrics, raschel laces and laminated fabrics is looking to the sale of the company as one of a number of possibilities "to maximize shareholder value." The strategy to sell the company would be as part of a plan of liquidation, enabling it to distribute its large cash position.

"The state of the industry has significantly affected our revenues and ability to predict the course of the business," said Samson Bitensky, chairman and ceo. Fab had been accumulating the money over a number of years to enable it to be in a position to...

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