Culp Expands Production of Critical Products in Support of COVID-19 Relief Efforts
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Expanding its work with several companies to produce face masks for supply to
FEMA . These non-medical grade, three-layer cotton masks are made in accordance with FDA standards and are sewn at the company’s CLASS facilities inNorth Carolina andHaiti ; -
Producing and supplying face masks for consumers and healthcare workers through the company’s Culp Hospitality platform in
Knoxville, Tennessee , (Read Window Products ) and through the company’s strategic partner relationships inVietnam , which are now sewing face masks instead of upholstery fabric kits for the company. These non-medical grade, three-layer cotton masks are also made in accordance with FDA standards; -
Producing and supplying sewn bedding covers and bedding fabrics used for hospital beds at the company’s CLASS facility in
North Carolina and through the company’s Asian platform; -
Working to assist other companies by using certain of Culp’s lamination equipment and finishing capabilities at the company’s facilities in
Stokesdale, North Carolina , andCanada for their production of critical products for the healthcare industry, including woven medical gowns; and - Utilizing the company’s full-scale research and development team to develop fabrics and other solutions for current and future personal protection equipment (“PPE”) needs.
About the Company
This release contains “forward-looking statements” within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995 (Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934). Such statements are inherently subject to risks and uncertainties that may cause actual events and results to differ materially from such statements. Further, forward-looking statements are intended to speak only as of the date on which they are made, and we disclaim any duty to update such statements, except as required by law, to reflect any changes in management’s expectations or any change in the assumptions or circumstances on which such statements are based, whether due to new information, future events, or otherwise. Forward-looking statements are statements that include projections, expectations, or beliefs about future events or results or otherwise are not statements of historical fact. Such statements are often but not always characterized by qualifying words such as “expect,” “believe,” “anticipate,” “estimate,” “plan,” “project,” and their derivatives, and include but are not limited to statements about expectations for our future operations, production levels, new product launches, sales, profit margins, profitability, operating income, capital expenditures, working capital levels, income taxes, SG&A or other expenses, pre-tax income, earnings, cash flow, and other performance or liquidity measures, as well as any statements regarding potential acquisitions, future economic or industry trends, or future developments. There can be no assurance that the company will realize these expectations, meet its guidance, or that these beliefs will prove correct. Factors that could influence the matters discussed in such statements include concerns with or threats of, or the consequences of, pandemics, contagious diseases or health epidemics, including the novel coronavirus; financial market conditions; consumer confidence; trends in disposable income; and general economic conditions. The impact of these factors could adversely affect our operations and financial performance. Further information about these factors, as well as other factors that could affect our future operations or financial results and the matters discussed in forward-looking statements, is included in Item 1A “Risk Factors” in our Form 10-K filed with the
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