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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): November 18, 1996
PILLOWTEX CORPORATION
(Exact name of registrant as specified in its charter)
Texas 1-11756 75-2147728
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
4111 Mint Way, Dallas, Texas 75237
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (214) 333-3225
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(Not Applicable)
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(Former name or former address, if changed since last report)
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Item 5. Other Events
The Registrant files herewith the exhibit listed in Item 7(c) below.
Item 7 Exhibits
(c) The following exhibit is furnished in accordance with Item 601 of
Regulation S-K:
99 Press Release
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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 hereunto duly authorized.
(REGISTRANT) PILLOWTEX CORPORATION
BY (SIGNATURE) /s/ Jeffrey D. Cordes
(NAME AND TITLE) Jeffrey D. Cordes
Executive Vice President / CFO
(DATE) December 2, 1996
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INDEX TO EXHIBITS
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<CAPTION>
Exhibit Method of Filing
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<S> <C> <C>
99 Press Release Filed herewith electronically
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PILLOWTEX
CORPORATION
News Release
FOR IMMEDIATE RELEASE
Contact: Jeffrey D. Cordes
Chief Financial Officer
214/333-3225 ext. 202
PILLOWTEX COMPLETES PURCHASE FIELDCREST ASSETS
Dallas, TX, November 18, 1996 - Pillowtex Corporation (PTX:NYSE) reported today
that it has completed the purchase of certain assets of Fieldcrest's blanket
operations. The estimated purchase price is $31.5 million, subject to
adjustments based on changes in inventory at closing. The price also includes
approximately $7 million for looms and other equipment and $4.5 million in
intangible costs related to an exclusive long-term license for the use of
Fieldcrest's trademarks.
"We are pleased to consummate this transaction and ready to focus on servicing
our new customers," stated Charles M. Hansen, Jr., Pillowtex Chairman and CEO.
The transfer of equipment and related plant improvements are already underway at
the Company's blanket manufacturing facilities in North and South Carolina, said
Hansen.
Pillowtex Corporation is a leading manufacturer and marketer of top-of-the-bed
home textile furnishings. The Company operates a network of manufacturing and
distribution facilities in the U.S. and Canada and services all major retailers.
