Jones Day has advised Everest Textiles in its acquisition of existing building in Forest City, North Carolina.
A Taiwanese company will spend $18.5 million to bring a sports fabric weaving and finishing operation that will employ 610 to Forest City.
Everest Textiles USA, a unit of Everest Textile Co. Ltd. in Tainan City, Taiwan, expects to start production of the fabric during the second or third quarter next year, says Tom Johnson, interim director of the Rutherford County Economic Development Commission.
Everest Textiles will take over an existing building in Forest City, which measures almost 400,000 square feet, to create the plant. Workers there will weave, dye and finish the fabric, which will be used in sports apparel.
It’s the first U.S. operation for Everest Textile Co. The Taiwanese company now supplies apparel companies including Nike (NYSE: NKE), Columbia (NASDAQ: COLM) and Patagonia from factories in Taiwan, China and Thailand.
Forest City is located in Rutherford County, about 65 miles to the west of Charlotte along U.S. Highway 74.
Jones Day advised Everest Textiles in its acquisition with a team led by Jeff Wang.
Involved fees earner: Jeffrey Wang – Jones Day;
Law Firms: Jones Day;
Clients: Everest Textiles;