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October 15, 2021

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The Dixie Group Announces Agreement in Basic principle For Sale of Industrial Business enterprise

DALTON, GA / ACCESSWIRE / June 30, 2021 / The Dixie Team, Inc. (NASDAQ:DXYN) currently declared entry into an arrangement in theory for the sale of its industrial small business to Mannington Mills, Inc. Conditions and situations are to be finalized in the close to future.

When completed, Mannington would invest in the AtlasMasland organization, which include particular tufting devices, other products and inventories. However, they would not be acquiring any services in the proposed transaction. Mannington would absorb the Firm’s AtlasMasland product sales, advertising and marketing and product or service style and design capabilities. The Firm expects the transition to take various months to full. In the course of that time, The Dixie Group will continue on to manufacture items for Mannington even though they relocate tufting devices and other gear to their services in Calhoun, Ga.

Commenting on the settlement in basic principle, Daniel K. Frierson, Chairman and Main Govt Officer, claimed, “Our Dixie Household business is incredibly strong, and, in buy to assistance our Household progress tactic, we are investing in more tufting and cabling machines for the Atmore plant. In addition, we are introducing a new solution-dyed product or service offering that is at present getting launched. This item offering will be supported from our Atmore facility. The potent demand from customers for our residential products together with our new introductions, such as the new answer-dyed products and solutions, generate the require for more household items to be made in our Atmore facility. We will proceed to services our swiftly developing TRUCOR™ challenging floor small business from our Saraland facility.”

The Dixie Group is a leading marketer and producer of carpet and rugs to larger-stop residential and commercial consumers via the Fabrica International, Masland Carpets, Dixie Dwelling, AtlasMasland and Dixie Global manufacturers.

This push launch includes forward-seeking statements. Ahead-seeking statements are primarily based on estimates, projections, beliefs and assumptions of management and the Business at the time of such statements and are not guarantees of general performance. Forward-searching statements are topic to hazard aspects and uncertainties that could result in real results to vary materially from these indicated in such forward-looking statements. This kind of components contain the concentrations of desire for the products generated by the Corporation. Other variables that could influence the Firm’s outcomes contain, but are not limited to, availability of raw content and transportation costs connected to petroleum price ranges, the expense and availability of money, integration of acquisitions, capacity to bring in, build and keep certified staff and standard economic and aggressive conditions linked to the Company’s enterprise. Troubles connected to the availability and selling price of electrical power may well adversely have an effect on the Firm’s functions. Additional details regarding these and other threat components and uncertainties might be found in the Firm’s filings with the Securities and Trade Commission. The Organization disclaims any obligation to update or revise any ahead-hunting statements based on the incidence of long run activities, the receipt of new facts, or if not.

Make contact with:
Allen Danzey
Main Fiscal Officer
706-876-5865
[email protected]

Resource: The Dixie Team, Inc.

Look at resource edition on accesswire.com:
https://www.accesswire.com/653646/The-Dixie-Team-Announces-Settlement-in-Basic principle-For-Sale-of-Industrial-Enterprise