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Culp, Inc. Plans $9.5 Million Expansion For Mattress Fabrics Business And Announces Key Division Management Promotions

Stocks in this article: CFI

Culp Home Fashions, a leading marketer of mattress fabrics for bedding and a division of Culp, Inc. (NYSE: CFI), has announced plans to invest $9.5 million in the company’s mattress fabrics operations. This capital project is designed to support the future growth potential in mattress fabrics and includes a building expansion as well as added capacity for finishing and fabric production. The first phase of the project is anticipated to be completed in late fall 2014, with the second phase expected in early spring 2015. Overall, the company is enhancing its capacity in four countries to support its mirrored manufacturing platform with duplicate, state-of-the-art capabilities.

Commenting on the announcement, Iv Culp, president of Culp Home Fashions, said, “Culp Home Fashions has enjoyed solid growth with record annual mattress fabrics sales of over $160 million in fiscal 2014. These expansion initiatives are an important investment in our future growth and reflect our unwavering commitment to meeting the demands of our customers. Ultimately, our goal is to further develop our scalable and reactive capacity base, and to stay ahead of the decorative trends and increasing demands of the mattress industry. We are excited about the opportunities ahead to continue to grow our mattress fabrics business.”

In tandem with these capital improvements and to further support its future growth, as well as customer service, the company has also announced management changes for Culp Home Fashions. Pat Rosser, previously Director of Operations, has been promoted to Vice President, Operations for Culp Home Fashions. In this role, he will oversee the global production schedule, logistics, organizational development and process review. Prior to joining Culp Homes Fashions in 2011 as Operations Coordinator, Rosser had a long tenure in the furniture industry as a sales executive at Rose Furniture, Director of Sales at Furnitureland South, and Vice President of Sales for 12 Ashley Home Stores. Rosser is a graduate of the University of North Carolina-Chapel Hill, and has a MBA from Wake Forest University.

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