Glen Raven Technical Fabrics to be merged with Shawmut

摘要

Glen Raven Technical Fabrics (GRTF)'s automotive headliner and speciality industrial fabrics business is to be merged into the business of composites manufacturer Shawmut Corp. The merged organization will be majority-owned by Shawmut of West Bridgewater, Massachusetts, USA,while GRTF's former parent company, Glen Raven of Glen Raven, North Carolina, USA,will be a minority owner. Shawmut Chief Executive Officer (CEO) James Wyner will lead the new organization, which will be jointly governed by a three-member Board of Managers. President of GRTF Harold Hill will serve as Glen Raven's representative on the Board.