Business Services Industry
Fieldcrest Cannon, Pillowtex Merge. (Originated from Columbus Ledger-Enquirer, Ga.)
Knight Ridder/Tribune Business News, September, 1997 by Bruner, Eric
Sep. 12--Sweet dreams, Fieldcrest Cannon.
Bedding manufacturer Pillowtex Corp. announced Thursday it has bought Fieldcrest Cannon for $700 million, creating one of the largest companies in the home furnishings industry.
With more than 1,200 workers in Columbus and Phenix City, Fieldcrest is the area's eighth-largest non-government employer.
Pillowtex officials said the company has no plans to close any plant, nor will it layoff any of Fieldcrest's 11,000 employees. Also, they said all union contracts with Fieldcrest employees will be honored.
Fieldcrest officials at its headquarters in Kannapolis, N.C., could not be reached for comment Thursday. Company officials in Columbus declined to comment on the deal.
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