"The sale of these assets is a part of our strategy to consolidate our North Georgia operations, reduce debt, and improve our balance sheet,” noted Daniel K. Frierson, Dixie's chairman and CEO. “The transaction is not expected to affect employment level at the dyeing facility. Product Concepts will continue its relationship with us as a supplier of external dyeing requirements."
The Dixie Group sells Colormaster dyeing facility
May 24, 2001
CHATTANOOGA, Tenn. -- The Dixie Group Inc. has completed the sale of Colormaster, a small dyeing facility located in Calhoun, Ga., to Product Concepts Residential LLC. Although details of the sale were not disclosed, Dixie said the transaction was in line with the company's expectation of Colormaster’s value.