Synthetic manufacturer in Dothan to stay open
DOTHAN, Ala.—One of Dothan's oldest manufacturers will keep its doors open after it was bought this week by new investors.
The Dothan Eagle reports ( http://bit.ly/uUzYj2) that Twitchell Corp. was bought Tuesday by a mixture of local and national investors, allowing the struggling synthetic fabric and yarn manufacturer to restructure its debt. The company employees more than 275 workers.
The company opened in Dothan in 1922. Company officials declined to release the purchase price. The company was listed at $70 million in 2000.
The new owners are Capital Partners LLC of Greenwich, Conn., and a group of local investors led by Dothan businessman John Watson.
Information from: The Dothan Eagle, http://www.dothaneagle.com