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From Home Furnishing Business

Culp to Invest $9.5 Million in Operations

Culp Home Fashions, Culp Inc.'s (NYSE: CFI) mattress fabrics marketing division, will invest $9.5 million in its mattress fabrics operations.

This capital project is designed to support the future growth potential in mattress fabrics and includes a building expansion as well as added capacity for finishing and fabric production. The first phase of the project is anticipated to be completed in late fall 2014, with the second phase expected in early spring 2015. Overall, the company is enhancing its capacity in four countries to support its mirrored manufacturing platform with duplicate, state-of-the-art capabilities.

“Culp Home Fashions has enjoyed solid growth with record annual mattress fabrics sales of over $160 million in fiscal 2014," said Iv Culp, president of Culp Home Fashions, High Point. "These expansion initiatives are an important investment in our future growth and reflect our unwavering commitment to meeting the demands of our customers. Ultimately, our goal is to further develop our scalable and reactive capacity base, and to stay ahead of the decorative trends and increasing demands of the mattress industry. We are excited about the opportunities ahead to continue to grow our mattress fabrics business.”

In tandem with these capital improvements and to further support its future growth, as well as customer service, the company has also announced management changes for Culp Home Fashions.

Pat Rosser, previously director of operations, has been promoted to vice president, operations for Culp Home Fashions. In this role, he will oversee the global production schedule, logistics, organizational development and process review. Prior to joining Culp Homes Fashions in 2011 as operations coordinator, Rosser had a long tenure in the furniture industry as a sales executive at Rose Furniture, director of sales at Furnitureland South, and vice president of Sales for 12 Ashley Furniture HomeStores.

Joe Gneiser has joined the company and will assume the position of director of operations, previously held by Rosser. In this role, he will be involved in all aspects of operations and will oversee customer service, shipping and receiving. Gneiser previously held positions as manager of global customer service and operations at Baker Furniture; and director of customer service operations at Furnitureland South. He also served as an officer in the U.S. Army.

“As we continue to grow our mattress fabrics business and expand our production capabilities, we are fortunate to have an experienced and dedicated management team." Culp said. "Pat Rosser brings an extensive background in the furniture industry and is well qualified to take on this new leadership role for Culp Home Fashions. He already has a deep understanding of our internal operations and our commitment to quality and innovation. We are also pleased to have Joe Gneiser join Culp Home Fashions and bring his unique experience in all aspects of supply chain management. As industry demands become more complex, we are confident we have the right team in place to ensure we have a dependable and flexible supply chain across our operations and continue to meet customer demand. We look forward to working together to enhance our leadership position in today’s marketplace.”



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