Belgium textile equipment manufacturer buys Cobble from Spencer Wright Industries
Michel Van de Wiele NV of Marke, Belgium has agreed to acquire the assets of the worldwide Cobble organization from the heirs of Chattanooga industrialist Spencer Wright.
The merger of the textile equipment makers announced today will unite two of the most historic and famous names in textile manufacturing technology — Van de Wiele and Cobble.
Cobble, formerly owned by the Singer sewing machine company, was bought in 1976 by Chattanoogan Spencer Wright who build the textile equipment company into a global maker of Colortec technology and Crabtree weaving machinery. Wright died three years ago.
"The Wright family, shareholders, directors and officers of Spencer Wright Industries Inc. are delighted to honor the wishes of the late Spencer Wright in securing the best possible outcome for the Cobble Group companies and products, thus creating a bright future for its worldwide family of employees under the stewardship of its new owners," the company said in a statement released today.
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