Milliken Selling Automotive Textile Division

Spartanburg, SC, Sept. 11, 2009--Textile supplier Milliken & Co. is selling its automotive-textile division, according to Automotive News, citing sources close to the company.

Sage Automotive Interiors, started by a former manager for Milliken, agreed to acquire Milliken's Automotive Body Cloth division, the magazine said.

The division currently supplies textiles for seat backs, door panels, trunk liners and carpeting, as well as package trays and airbag materials.

In May, Milliken issued a press release announcing a letter of intent to sell the division to a company called Autotex, backed by private investment firm Azalea Capital.