Quaker Fabric to Sell Another Factory

March 14, 2006  by in UnCategorized   

By Home Furnishings Business in on March 2006 Quaker Fabric Corp. has agreed to sell Plant I, a 53,000-square-foot factory located in Somerset, Mass., for $1.75 million.

The company said selling the plant is consistent with its efforts to reduce operating expenses by consolidating the Fall River, Mass.-area manufacturing operations into as few plants as possible. Quaker announced earlier this month that it had sold a 240,000-square-foot plant for $1.4 million.

The purchase and sell agreement allows for an inspection period that runs through May 1, and the deal is expected to close no later than July 14. The buyer, Fred Smith of Cumberland, R.I, has placed a $25,000 deposit for the property.