Nextil Signs Agreement for Sale of Subsidiary Elastic Fabrics of America

In a move to streamline its operations and focus on its core business, Nextil has agreed to sell the production facilities of its subsidiary Elastic Fabrics of America (EFA), located in North Carolina, to a leading manufacturer in the industry. The sale is expected to be finalized in the coming weeks, subject to customary closing conditions..

EFA, a leading producer of elastic fabrics for the apparel and home furnishings markets, has been part of the Nextil group since 2017. The company operates manufacturing facilities in Asheville and Shelby, North Carolina, employing approximately 300 people..

The decision to sell EFA’s production facilities is part of Nextil’s ongoing efforts to optimize its manufacturing footprint and concentrate on its core business of producing high-quality yarns and specialty fabrics. By divesting EFA’s production operations, Nextil aims to enhance its focus on innovation, efficiency, and customer satisfaction in its core markets..

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