sociedade an nima traded as bm & f bovespa sgps3 industry textile founded 2005 headquarters montes claros brazil key people josu christiano gomes da silva chairman & ceo revenue us 820.8 million 2012 1 net income us 70.3 million 2012 1 number of employees 3 980 parent coteminas website www.springs.com springs global is a brazil based multinational corporation engaged in the manufacturing marketing and sale of packaged textile and non textile home furnishings . it makes textile goods such as sheets pillows bedspreads towels and bath rugs under the springmaid and wamsutta brands . other well known brands from springs global include regal beaulieu bali and nanik . it operates in argentina mexico brazil canada and the u.s. and has about 30 manufacturing units in 13 states of the u.s. the previous owner springs industries combined its home textile operations with brazil s coteminas and the main manufacturing operations were moved to south america from lancaster county south carolina where the original plant had provided jobs for nearly one third of the county s population . after the relocation of manufacturing to brazil the resulting structure left the renamed springs global us to work alongside coteminas as the operating units of parent springs global ; most manufacturing decisions and control originate from the montes claros headquarters while executive control is in the u.s. contents 1 history of springs industries 2 merger with coteminas 3 references 4 external links history of springs industries edit in 1887 samuel elliott white and others started fort mill manufacturing co. in fort mill south carolina . the plant opened in 1888 . at one time the plant employed 2000 and was the largest producer of fabric for bed sheets in the world but in 1983 when it closed only 200 still worked there . 2 the white plant in fort mill opened in 1892 . 3 in 1895 leroy springs and others started lancaster cotton mill in lancaster south carolina . 4 springs also bought the chester and cheraw railroad renaming it the lancaster and chester railroad or l & c. 5 lancaster had the largest print cloth factory in the world in 1939 . 4 in 1948 springs opened the grace plant on the catawba river near lancaster at the site of a former locomotive shop . the company made consumer products for the first time . 6 in 1959 elliott springs died and h.w. close became president of the springs cotton mills and springs mills inc. adding new plants and products and making springs a publicly traded company in 1966 . 7 in 1962 springs announced a warehouse complex in fort lawn which was followed by the elliott plant and the frances plant . 650 people worked at the three operations . the warehouses could hold cotton worth more than 19 million . 5 the katherine plant in chester opened in 1968 . 6 in october 1985 springs announced the 265 million acquisition of new york city based m. lowenstein the largest merger ever in the textile industry making springs the no. 3 publicly held textile company in the united states 8 as well as the largest maker of sheets with a quarter of the market . the deal gave springs the premium wamsutta brand . 9 springs had previously been considered a possible buyer of cannon mills . 8 on october 21 1986 crosland erwin associates and springs chairman walter elisha announced plans for an outlet mall in the fort mill plant . the project turned out to be too expensive and it was tainted by the heritage usa scandal . the fort mill plant burned june 28 1988 . 2 springs was the largest industrial employer in south carolina 10 with 1.7 billion in sales in 1987 and 23 500 employees at 39 plants in six states plus belgium england and japan . about 18 000 people worked at 24 plants in south carolina . 11 springs was the largest employer in chester county south carolina when on may 2 1988 the company announced a 12 million plant in fort lawn to make comforters draperies and other bedroom items . with 325 new jobs the county would have 4000 people working for springs . already springs made bedspreads at the riverlawn plant in fort lawn . 11 in august 1988 springs announced that 200 jobs would be lost at its 93 year old lancaster complex . this would reduce the number of employees to 1300 down from 4500 in 1981 . the number of fly shuttle looms was reduced during the same period from 7000 to 300 . 12 on october 20 1988 springs announced plans to spend 370 million over the next two years on modernization as well as closing or selling some plants . this would include the home furnishings and industrial fabrics groups . already the white plant in fort mill and the katherine plant in chester were getting 20 million in improvements each while in lancaster 200 jobs were being dropped as a weaving process was ended and 179 lost their jobs in anderson south carolina with the closing of the lyons plant . 10 in 1989 springs opened the close plant in fort mill . 6 merger with coteminas edit springs began its association with brazil based coteminas in 2001 when the close family took the company private . that year springs and coteminas began a s trategic long term alliance . 7 in 2002 springs bought the beaulieu accent rug business including its dalton georgia and stratford ontario operations and the burlington industries window treatment and bedding businesses . 7 in 2003 500 workers lost their jobs when the white plant and the lancaster plant closed and 130 more grace plant workers also were let go . 3 in 2004 springs closed the 1920s lyman south carolina and 1960s anderson south carolina plants acquired in 1985 . 6 on january 1 2005 global textile quotas ended allowing countries where employers paid their workers less than u.s. companies to ship more products . 7 early in the year the elliott plant in fort lawn closed and 450 were laid off at the grace plant . 6 in october 2005 springs announced its home furnishings operations would merge with coteminas in an effort to lower costs stay competitive and keep as many jobs as possible . springs still had around 1000 workers at two chester county plants . with manufacturing at 13 plants in brazil and argentina springs could have sheets and towels in stores faster than if production was done in china . springs and coteminas would each own half of springs global and springs would continue to make springmaid and wamsutta products . 13 after spending 10 million improving the katherine plant in 2005 springs announced machinery from there would be moved to south america and 700 would lose their jobs by february 2007 . also the frances plant in fort lawn was closing in december 2006 with 60 jobs lost . 7 on june 27 2007 springs said that after 120 years springs would end manufacturing in south carolina with the closing of its grace and close plants . the state would still have about 700 employees most of them at distribution centers in lancaster and fort lawn and at the fort mill offices . 6 references edit a b bm & f bovespa sgps3 a b brown linda june 29 1988 . springs family member recalls mill s early days . the charlotte observer . p. 4a . a b l heureux dave july 10 2003 . springs to close 2 plants . the state . p. b6 . a b garfield matt october 22 2008 . lancaster america s most vulnerable town . the herald . p. 1a . a b pettus louise august 24 1996 . late blooming fort lawn grew quickly in early 60s . the charlotte observer . p. 2y . a b c d e f hopkins stella june 28 2007 . 14 000 in 1992 . 700 jobs in 2007 . springs slashed work force in s.c. will now be without any plants ; 120 years of manufacturing fades away . the charlotte observer . p. 1d . a b c d e lee gillian may lian ; hirsch deborah june 15 2006 . springs to slash 760 jobs company closing 2 s.c. plants shifting operations to south america . the charlotte observer . p. 1a . a b matthews steve october 14 1985 . analysts say cannon sale now likely victory in union vote making making mills attractive . the charlotte observer . p. 1c . matthews steve october 14 1985 . merger both coup challenge fieldcrest cannon face realignment . the charlotte observer . p. 1d . a b glickman clifford october 21 1988 . springs speeding up plans to modernize . the charlotte observer . york observer p. 1 . a b huntley dan may 3 1988 . chester county to get another springs plant 12 million facility to add 325 jobs for textile workers . the charlotte observer . p. 1a . glickman clifford ; rabb william september 1 1988 . springs plans to cut jobs in lancaster . the charlotte observer . york observer p. 1 . lee gillian may lian november 12 2005 . springs aims for jobs to stay textile giant wants to keep work force of 10 000 in u.s. with coteminas merger . the charlotte observer . p. 1d . external links edit official website hall presley and james l. hughes iii . from raw cotton to cloth . southern spaces november 22 2006 http southernspaces.org 2006 raw cotton cloth . retrieved from https en.wikipedia.org w index.php title springs global & oldid 736332758 categories 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