Harris Teeter 2002 Annual Report Download - page 12

Ruddick Corporation and Subsidiaries
annual report 2002
Our position as one of two significant global
sewing thread providers gives us access to manufacturers
around the world, and our concentration on technology
enables us to provide high-quality thread, meeting the
strictest performance standards of our customers.
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strategically|positioned|globally
A&E’s modern dyeing and finishing facility in Dongguan City, China expands our production capacity in the region.
At A&E we are positioned to succeed in a rapidly
changing and increasingly competitive thread industry,
both in the United States and abroad. In recent years,
we have seen the U.S. apparel, textiles, and home
furnishings industries deteriorate as a number of
domestic producers have found it hard to compete with
lower labor costs overseas. We also realized years ago
that to succeed, A&E would have to follow its customers
and be in a position to service their needs abroad. Over
the past several years, we have made a concentrated
effort to enhance our presence in such fast growing
regions as Latin America, the Caribbean basin, Africa,
China and elsewhere in Asia, and for the first time in
our history, foreign sales exceeded 50% of A&E’s total
sales in the fourth quarter.
Our position as one of two significant global
sewing thread providers gives us access to
manufacturers around the world, and our
concentration on technology enables us to provide
high-quality thread, meeting the strictest performance
standards of our customers. In a very fragmented
industry, we believe that we are gaining market share in
certain strategic markets and positioning ourselves for
future growth.