Burlington Industries said it has agreed to...
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Burlington Industries said it has agreed to sell the apparel fabrics portion of its Blended Fabrics division and its Prints division to Citicorp Venture Capital and the divisions’ current management for about $150 million. Burlington will retain an 18% interest in the business. Burlington Blended Fabrics manufactures finished cotton and cotton blended fabrics for men’s and women’s apparel; Burlington Prints produces printed fabrics for apparel. The deal is to be completed by Feb. 1.
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