The clothmaker. [volume] (Clinton, South Carolina) 1952-1984, February 15, 1978, Image 3
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WEATHER-PROOFEE
Spinner Retha Eustace, "w<
added storm doors. I do not 1
can. When I am at work, I ji
when items you cannot do v
things you should or should
'Windp
Their
"The high prices of 1
comfortable has its effect on
Warper operator Rachael F
though we keep cutting our
going up.
"Recently, we put new
added plastic over the windo
out.
"In the day time, we ke<
we've just quit using our car
Rachael, like so many <
found walking to work a good
operating a car.
Like many other employe
Rachael affects the amount of
on other goods and services.
Imports
The nation's textile industry
ended 1977 in pretty good
shape after a record shipment
year, but the outlook
ahead is clouded by rising
imports, possible tariff cuts,
stiff regulatory actions and
energy uncertainties, the
president of the American
Textile Manufac turers Institute
(ATMI) said recently.
In his year-end review and
forecast for 1978, Robert P.
Timmerman said textile
shipments reached $42 bill
ion this year, for a full 12
percent gain over 1976. He
said, too, that the industry
possibly set a new production
volume record this year,
or at least matched the 12.7
billion pound mark set in
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br
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' 3&?fs? 'xk??&u'*
3p ' . a'-'
) HOME?"In order to cut down
i have put a new top on our hous
know how much I have saved, bul
list cut the heat off. Everything L
without go up, that makes it diffn
not buy."
roofed'
Home
Keeping a house warm and
my spending," says Assistant
'aulsen. "It seems that even
usage back, the prices keep
facings around our doors and
ws trying to keep the cold air
;p our heat at 60 degrees, and
except when we have to."
of her fellow employees, has
alternative to the high costs of
>es, the high costs of energy for
' money available for spending
And Ener
1973.
Unfortunately, Mr. Timmerman
added, textile profits
didn't follow the upward
trend.
"Our earnings per dollar
of sales are estimated at 1.9
percent, well below the nation's
5.4 percent manufacturing
average," Timmerman
said, "and substantially
less than our 2.4 percent
performance of a year ago."
In spite of sluggish profits,
Timmerman said that the
industry stepped up its pace
oi capital investment in 1977
"to maintain our position as
the most modern textile industry
anywhere in the
world."
He said that $930 million
on fuel," says Plant No. 2
e, put in new windows, and
t at least we are doing all we
ike fuel keeps going up, and
cult to decide exactly which
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j9I
RACHAEL PAULSEN
gy Cloud
was earmarked for new
plants and equipment, up
$120 million from 1976, but
that "these investments cannot
keep pace with expenditures
necessary to meet nonproductive
government regulations."
Timmerman went on to
say that the industry's sluggish
profit performance reflects
acute domestic industry
competition heightened
hv inrrpa?;in0 tpvtilo imnnrip
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from low-wage foreign nations.
"Import gains, in heightening
the competitive fever,
continued to outstrip exports,
thereby siphoning off
additional domestic sales potential,"
the ATMI president
save i
... to keep it flowing throi
very switch and valve...
home, business, industry..
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jgm
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Textile I
said, noting that imports had
grown to nearly $6 billion in
1977.
"This figure represents a
$3.2 billion textile trade deficit,"
he said, adding that the
1976 textile deficit of $3 billion
was responsible for onethird
of the entire U.S. trade
deficit.
I,ooking toward 1978, Timmerman
said he expects a
slower upward momentum
than in 1977, because of
inventory surpluses in the
textile pipeline and a leveling
off the recovery from the
1974 recession. "Still," he
said, "we anticipate a gain in
shipments over 1977."
However, Timmerman
was also guarded in his
y
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snemu
jgh
:orecast
forecast for the new year,
saying "much of the industry's
future growth potential
will be determined by the
pattern of imports."
ICS
energy
sauing
ume