Nano-Tex parent company completes integration

Aug. 3, 2004 — WL Ross & Co. announced  yesterday that it completed the integration of Burlington Industries and Cone Mills into the newly created International Textile Group.

The group includes Cone Denim, Burlington Apparel Fabrics, Home Furnishings, Carlisle Finishing and Nano-Tex, the maker of nanotech-based stain and dirt resistant fabric enhancements.

The company also announced a new five-year, $150-million credit facility that includes Bank of America, GE Capital Corp. and CIT Group among its lenders. Wilbur Ross, chairman of International Textile Group, said the credit will be used to fund growth in 2005 and later years.

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