Harris Teeter 2004 Annual Report Download - page 12

A COMMITMENT TO SU CCEED
I
n the past decade, the worldwide textile and apparel industries have been
undergoing simultaneous evolutions on two fronts: geography and
technology. Surviving and prospering in this industry means adapting to
these fast-moving changes. We are proud to say that American & Efird has
been on the leading edge of both of those evolutions. The work has not
always been easy, and there is still much to do. But the year just past saw us
complete several steps that have been underway for some time, and we face
the challenges of 2005 and beyond with optimism.
As we move into 2005, we are focusing our adapting efforts in three areas: Global
Availability, Global Consistency, and Communications.
Global Availability means following our customers as they expand their production facilities
around the world. By following our customers, we are able to provide local sources of top-
quality products. Some of these facilities are wholly-owned and operated by American &
Efird. Other facilities are joint ventures with local concerns. Still others are licensees of
American & Efird. Regardless of the ownership arrangement, all facilities operate under
American & Efird’s principles of “Quality, Service and Value” and pledge to deliver on our
corporate aim: “To be the preferred supplier of sewing thread and related products by
providing World Class quality products and services to our Customers.” During the past
year, we expanded our global reach by opening sales and distribution operations in Turkey
and Colombia, and by adding licensees in Kenya and Thailand.
We also will continue to seek acquisition targets that fit our long-term goals, such as
Synthetic Thread Company, Inc., whose assets we purchased in 2004. Synthetic, a
manufacturer of industrial sewing thread and specialty engineered yarns, had sales of
approximately $12 million in 2003. The thread products complement our existing product
lines very well, and the specialty engineered yarn products will expand our traditional
product line offerings and further increase our non-apparel sales within the United States.
The wire, cable and other industries use specialty engineered yarn products for binding,
braiding, ripcords, markers, and other custom applications.
Global Availability also means Global Responsibility. Years ago, we adopted a Global Code of
Conduct that is applicable everywhere American & Efird does business. Included in the
Ruddick Corporation & Subsidiaries Annual Report ’04
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American & Efird