Business Services Industry
North Charleston, S.C.-Based Textile Maker's Stock Prices Crawl Out of Cellar.
Knight Ridder/Tribune Business News, April, 2001
By Sam Gresock, The State, Columbia, S.C. Knight Ridder/Tribune Business News
Apr. 2--Polymer Group Inc.' s stock began a long, slow road to recovery last week.
North Charleston-based Polymer, the largest U.S. maker of nonwoven textiles, said Tuesday it has been talking with a group of lenders about modifying its credit agreements.
Polymer said March 13 it expects to lose money for the first quarter and fiscal year and would probably fall out of compliance with terms of its credit arrangements.
The company's stock finished the week at $1.78 a share, up 71 cents from the previous Friday's trading ($1.07) on the New York Stock Exchange.
Polymer's stock began the week on the rise, closing Monday at $1.31 a share. After...
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