Historical Newspapers of South Carolina

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J James 8. Edwards oovcanor Mr. Robert M. ' President Clinton Mills Clinton, South C Dear Bob: Cong ratulations on your 80th Anr to your Commun I am confident tt are proud of you successful histoi of free enterprts With warmest n fcj. fc-dwai JBErfge Profit Sh Has Stea The Profit Sharing and Re tirement Plan which Clinton Mills established for its employees in 1966 has recorded a steady growth. On February 2, 1976, Clinton Mills President Robert M. Vance announced the Funds current value exceeded 1.63 million dollars. In making the announcement, Vance said, "I am pi?s?<?ed to inform you that the Company has contributec $260,932.96 to the employee Profit Sharing Plan for 1975." 'Prom The theme at Clinton Mills is superior quality - from fiber to fabric. "This theme ties in very closely with the corporate philosophy to continuously modernize its production facili ties, expand our product line, and to seek growth, both internally and externally, where practicable and profitable," says President Robert M. Vance. Halt of (fiaralt v'ance Carolina 29325 to you and the fine employees liversary. The contributions ity, State, and Nation have b >at all of your employees and ir success and achievement, ny is indeed a tribute to our > se. sgards, ?*ds aring dy Growth Vance further noted that "the '75 contribution is of special significance considering the economic condition which influenced the textile industry, our local community, and tne entire nation during the year." i I "The worst of the national economic slowdown is over," stated Vance in his letter to i eligible employee participants, "and in general, the long I range forecast for the com> pany is very good." i Of Herita i Vance, the fifth member of the Bailey family to hold the corporate presidency, readily admits the company has had a gooo repuiauon 01 long standing in the market place. "At the plant level, we are continually striving to improve our products. This is a necessity if both our sales group and manufacturing units continue to progress and maintain rm Of net or tni GovtHNOt Post Orricc Box liftSO COLUMBIA 29211 5 of Clinton Mills i you have made een outstanding. business associates Clinton Mills ^nrerican system ? '"NTO\ \|, to to d 7 agSLS!?*^ iMUi 2222??^ ? aawMM ? *'* m mm laatl ee^iiieni It It mXm m ~* - ss.'w.: n | **' *** CLw*1*i' ? ? uU" ft ^ U MMv* ll I 1 ?- sr I W. I Joe Burns, Plant Nc announcement regarding t The company contribu Plan's trust fund income e The 1975 contributioi recession and its effect on ge?Confi their competitive position in the markets." During the past ten years, Clinton M'"? has gone through many areas of diversification. lnese include the construction of the Bailey Plant; purchase of substantial financial interest in Elastic Fabrics of America; the merger of Superior Knits and the acquisijAvj* '*Ak ui V.v.: Com par A New By the end of 1964, Clint grown to the point where it w company. The story carried in the I Clinton Chronicle is reprinted Merger of Clinton Cotton separate local textile corporat ed by the stockholders of President Robert M. Vance ai The plan of merger as Directors will become effecti1 Mills, Incorporated will be th< Mr. Vance, in a bulleti stated, "The merger brings i tages from both the former s* Co-ordination of propert financial resources into one o our competitive positiofl and I growth and expansion. Eael identity and continue to opera Both companies were fou Clinton in 1896, Lydia in 1902 * ' ft ' Btt? w"" " iuwi mm ?4? Se?at Wh*. l IMS tn rm WW. fM mm* mmm n, *T*. ? rent I WBBMMttBHNHNI **% *? I*""' ij mi sr? at*** " ;ipj ? r?u. >?" ?Z. ? ? ? SLIT?? ? I "*' ""* S|>>t *-"*""* ???- ' Hi >-0~ * ^Bfl >. 2 Loom Technician, reads cj he employee Profit Sharing and ted in excess of $260,932 to the 1 xceeded $209,700. i is of special significance con industry. ident Of F tion of Mid America Yarn Mills, Inc. "Our Company has had a successful 80 year history. The corporate management has always placed special emphasis on our employees and their well being. The loyal and dedicated people who operate our equipment have been the foundation of our success," added Vance. ly Takes Name *>n and Lydia Cotton Mills had as necessary to merge into one December 3, 1964 edition of the in part below: Mills and Lydia Cotton Mills, ions, was unanimously approvthe corporations last week. iiiuuuv^u j coici uajr submitted by the Boards of 'e December 31, 1964. Clinton i new name of the firm, n board notice to employees additional strength and advan?parate companies, ies, production facilities, and ompany will further strengthen mild a broader base for further h plant will maintain its own tte as it is presently doing." nded by the late M.S. Bailey 9 gMBgiaia JK^' ^mliI HA arefully the bulletin board Retirement Plan. ?lan in 1975. In addition, the sidering the 1975 economic ruture' Vance feels there is a steady growth potential for all areas ~ t 1 ? * ui icAines, ana empnasizea, "as has always been our policy, we are constantly trying to ~make our products better. This is a -must to remain profitable while maintaining a work environment, wages, and fringe benefits that are among the best in the industry." j/ i Hit i*W.V t< !ii.