Harris Teeter 2006 Annual Report Download - page 6

Ruddick Corporation & Subsidiaries Annual Report 2006 3
China, integrating the operations of our recent acquisitions and further diversifying
our product lines throughout our global footprint. The streamlining of our operations
occurred throughout the world, by completing the consolidation of the operations
of Ludlow Textiles Company, Inc. into our existing operations in North Carolina, and
integrating the operations of Jimei Spinning Company Limited in China with our
existing joint venture Hengmei Spinning Company, Ltd.
American & Efird is considered the second largest global supplier of industrial
sewing thread, embroidery thread and technical textiles and we intend to continue
our efforts to further diversify our product lines and build our global network.
Our expansion continued in September 2006 with the acquisition of TSP
Tovarna Sukancev in Trakov d.d. (TSP) located in Maribor, Slovenia. This acquisition
expands our non-apparel sales and production capacity in Europe, since TSP
manufactures and distributes sewing thread and trimmings for industrial markets,
primarily the automotive markets of Eastern Europe.
Our efforts to further diversify our product lines and customer base led us
to our 2005 acquisition of Robison-Anton Textile Co., a producer of high-quality
embroidery threads. We are capitalizing on the Robison-Anton brand recognition
and have initiated a new advertising campaign to promote the sales and distribution
throughout our global network, including Mexico, Asia, Central America and Europe.
During this past year we also continued on our strategic plan of capital investment
in our China joint venture, Huamei Thread Company Limited, which is one of the
largest thread producers in that rapidly growing market. This plan continued to pay
dividends during the year with increases in sales of higher value-added thread products.
A commitment to customer service and quality serves as a guide for us at both
Harris Teeter and American & Efird. We have been successful by adhering to this
commitment in the past and will continue to follow our belief that providing the best
possible customer service and quality will lead to our continued success. We thank all
of our associates throughout the world for their dedication to our commitment, and
for the success we have shared in the past and expect for the future.
Thomas W. Dickson,
Chairman of the Board, President and Chief Executive Officer