SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Sections 13 or 15(d) of the Securities Exchange Act of
1934
Date of Report (Date of Earliest Event Reported) December 12, 1995
Cone Mills Corporation
(Exact Name of Registrant as Specified on its Charter)
North Carolina 1-3634 56-0367025
(State or Other (Commission File IRS Employer
Jurisdiction of Number) Identification
Incorporation No.
1201 Maple Street, Greensboro, North Carolina 27405
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code (910) 379-6246
N/A
(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
The following announcement was made by Registrant on the date
of this report:
BRITISH VITA & CONE ANNOUNCE PLANNED SALE OF OLYMPIC PRODUCTS
Greensboro, NC, December 12, 1995---British Vita and Cone Mills
Corporation are pleased to announce that they are in an advanced
stage of negotiations for British Vita to acquire from Cone Mills
Corporation certain fixed assets and inventories of Cone Mills'
Olympic Products Division for a price of approximately $40 million.
Olympic, which is based in North Carolina and Mississippi, had sales
in 1994 of approximately $100 million of form and fibre components
for the US automotive, household and industrial markets.
Application is now being made to the US Regulatory Authorities under
the Hart Scott Rodino Act, and subject to clearance and finalization
of legal agreements, completion is anticipated early in the new year
at which point further details will be given.
--end--
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
CONE MILLS CORPORATION
(Registrant)
Date: December 12, 1995 By:/s/ John L. Bakane
John L. Bakane
Executive Vice President
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