Thursday, March 30, 2006

WestPoint Home Announces Joint Venture With Indus Dyeing for Towel Production in Pakistan

WestPoint Home today announced a joint venture with Indus Dyeing & Manufacturing Co., Limited for production of towels in Pakistan. The joint venture, to be known as Indus Home Limited, will acquire and expand an existing modern Indus facility outside Lahore, Pakistan.

The resulting Indus Home complex in Pakistan will be a vertical towel production facility, including yarn preparation, weaving, finishing and fabrication. The facility is already supplying product to WestPoint Home and will ramp up production over the next several months.

"This joint venture is a vital step in restoring WestPoint Home as the
industry's low-cost vendor and advancing the Company in the global market," said WPH Chief Executive Officer Joseph Pennacchio. "We have made this commitment after an extensive analysis of a wide range of opportunities. This joint venture will further strengthen our ability to compete with all domestic and international producers, while enhancing our long-established leadership in customer service and product quality.

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