Textile rental firms Angelica Textile Services Inc and Tartan Textile Services Inc are to swap plants in Pennsylvania and California.
Under the terms of the agreement, Angelica’s business operations in Philadelphia will go to Tartan in exchange for Tartan’s Vallejo, operations. Terms of the deal, which is subject to due diligence, were not revealed but the agreement should be completed next month.
In a statement, the firms said “both companies are expected to benefit from the exchange by consolidating operations in regions where they already have significant business locations”.
Date:8/12/2002
Source: