<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------------------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): JANUARY 6, 1998
(DECEMBER 29, 1997)
THE BIBB COMPANY
(Exact Name of Registrant as Specified in its Charter)
DELAWARE 0-21661 58-2253133
(State of (Commission (IRS Employer
Incorporation) File Number) Identification No.)
100 GALLERIA PARKWAY
SUITE 1750
ATLANTA, GEORGIA 30339
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (770) 644-7000
...............................N/A..........................................
(Former name or former address, if changed since last report.)
<PAGE>
ITEM 5. OTHER EVENTS.
On December 29, 1997, The Bibb Company, a Delaware corporation ("Bibb")
completed the sale of the assets of its napery business to Mount Vernon Mills,
Inc., a Maryland corporation ("Mount Vernon"), pursuant to an Agreement of
Purchase and Sale dated December 22, 1997 by and between Bibb and Mount Vernon.
The proceeds of the sale were used to reduce Bibb's indebtedness under its
financing agreements.
ITEM 7. FINANCIAL STATEMENTS
(a) Financial Statements of Businesses Acquired.
-------------------------------------------
Not applicable.
(b) Pro Forma Financial Information.
-------------------------------
Not applicable.
(c) Exhibits.
--------
Exhibit
Number Exhibit
------ -------
99.1 Press release, dated December 29, 1997.
2
<PAGE>
SIGNATURE
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, hereunto duly authorized.
THE BIBB COMPANY
By: /s/ CHARLES R. TUTTEROW
-------------------------
Charles R.Tutterow
Vice President, Finance and Secretary
Date: January 6, 1998
3
<PAGE>
INDEX TO EXHIBITS
-----------------
EXHIBIT
NUMBER EXHIBIT
------- -------
99.1 Press release, dated December 29, 1997.
4
<PAGE>
[LETTERHEAD OF THE BIBB COMPANY]
CONTACT: The Bibb Company
Chuck Tutterow
Vice President, Finance
770-644-7050
Mount Vernon Mills, Inc.
Ned Cochrane
Vice President and Secretary
864-233-4151
THE BIBB COMPANY SELLS ITS NAPERY BUSINESS
TO MOUNT VERNON MILLS, INC.
Bibb Will Close Its Roanoke Rapids, North Carolina, Plant
ATLANTA (December 29, 1997) -- The Bibb Company (AMEX: BIB) today announced that
it has sold its napery business to Mount Vernon Mills, Inc. and will close its
manufacturing plant in Roanoke Rapids, North Carolina, by the end of February
1998. Terms of the transaction were not disclosed.
Bibb's Chairman, President and Chief Executive Officer Michael L. Fulbright
said, "The decision to sell our napery business is consistent with the actions
we have taken throughout 1997 to stabilize our Company and ensure a solid,
profitable 1998. With this sale, we can bring an even stronger focus to our
home furnishings and engineered products lines where we have a strong market
position and growth potential."
Commenting on the Roanoke Rapids facility, Fulbright added, "All operations
at our Roanoke Rapids plants, our only facility in North Carolina, will cease
during the first quarter of 1998. There will be certain one-time charges
associated with this action that will be reflected in fourth quarter results,
which we expect to report in mid-February 1998."
Mount Vernon's President and Chief Operating Officer Roger W. Chastain
said, "Our Company is very excited about this acquisition. It has been our
strategy to grow both by internal means and by acquisition. This transaction
will make us the only vertical producer of napery for the hospitality and
institutional markets in the U.S. This will also enable Mount Vernon to offer a
full range of Momie and Damask woven products in both cotton and blends."
Bibb is a manufacturer and marketer of consumer products for the home,
principally sheets, bedding and bath accessories; textile products for the
hospitality and healthcare industries; fabric for the apparel industry; and
specially engineered textile products used in making high-pressure hoses and
<PAGE>
other industrial products. Bibb operates seven manufacturing facilities in
Georgia, North Carolina, South Carolina and Virginia.
Mount Vernon Mills, Inc. is a diversified and integrated producer of
yarns, fabrics and related products for the apparel, home furnishings,
industrial, automotive and consumer goods markets. Headquartered in Greenville,
South Carolina, Mount Vernon has about 5,800 employees and operates 15
manufacturing facilities located in South Carolina, Georgia, Alabama and Texas.
