North American to buy Globe´s latex thread business

FALL RIVER, Mass. (April 11)—North American Rubber Thread Co. Inc. is negotiating to buy Globe Manufacturing Corp.´s natural rubber latex thread extruding operations for an undisclosed amount and operating Globe´s latex thread capacity while talks are ongoing, according to John Friar, North American treasurer and co-owner. The sale would make North American the sole remaining latex thread producer in North America, but leave Globe with its substantial business in synthetic spandex thread. The purchase will just about double North American´s production capacity, according to Friar, who declined to give exact figures.