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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of Earliest Event Reported): February 18, 1997
WestPoint Stevens Inc.
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(Exact Name of Registrant as Specified in its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
0-21496 36-3498354
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(Commission File Number) (I.R.S. Employer
Identification No.)
507 West Tenth Street, West Point, Georgia 31833
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(Address of Principal Executive Offices) (Zip Code)
(706) 645-4000
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(Registrant's Telephone Number, Including Area Code)
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS.
On February 18, 1997 WestPoint Stevens Inc. announced that
it has reached an agreement with The Bibb Company ("Bibb") to purchase
substantially all assets related to Bibb's towel operations at the
Rosemary Complex in Roanoke Rapids, North Carolina.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
Exhibit 99. Press Release Dated February 18, 1997.
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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.
WESTPOINT STEVENS INC.
Date: February 18, 1997 By: /s/CHRISTOPHER N. ZODROW
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Christopher N. Zodrow
Vice President and Secretary
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EXHIBIT INDEX
Exhibit No.: Description: Page No.:
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99 Press Release dated February
18, 1997.
NYFS08...:\65\80765\0004\1324\SEC2187M.030
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Exhibit 99
NEWS RELEASE
Contact: Morgan M. Schuessler
Executive Vice President/Finance
and Chief Financial Officer
(706) 645-4230
WESTPOINT STEVENS INC. AGREES TO ACQUIRE
BIBB TOWEL OPERATIONS
WEST POINT, Georgia (February 18, 1997) - WestPoint Stevens Inc.
(Nasdaq/NM:WPSN) (http:www.westpointstevens.com) today announced that
it has signed an agreement with The Bibb Company to purchase for cash
substantially all assets related to Bibb's towel operations at the
Rosemary Complex in Roanoke Rapids, North Carolina. Closing of the
transaction is expected on February 21, 1997. All necessary
regulatory approvals have been obtained.
"WestPoint Stevens is dedicated to the long-term growth of
its bath business and to consistent timely customer service.
Management believes that, along with the capacity currently being
achieved via the previously announced expansion of the Company's
existing bath operations, the Bibb capacity will ensure long-term
growth of both WestPoint's and its customers' bath business," said
WestPoint Stevens President and Chief Operating Officer Thomas J.
Ward. WestPoint Stevens also anticipates substantial capital
investment in Bibb facilities following the acquisition.
WestPoint Stevens Inc. is a home fashions consumer products
company, with a comprehensive line of branded and licensed products
for the bedroom and bathroom. The Company is vertically integrated
and is the nation's leading manufacturer and marketer of bed linens,
towels, comforters, and other accessories that are sold in retail
outlets throughout the world. WestPoint Stevens home fashions
consumer products are marketed under the well-known names of ATELIER
MARTEX, MARTEX, UTICA, STEVENS, LADY PEPPERELL and VELLUX, and under
licensed designer labels, including RALPH LAUREN HOME COLLECTION,
SANDERSON and HALSTON.
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