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 Republic
Textile Equipment Co. (RTE) has been involved in the textile
industry since 1935. The company was founded in New York and operated
there until Michael Diamond moved RTE's operation to York, South
Carolina.
Since its inception, the company has handled all types of used
textile machinery and equipment. Our company was the first used
textile machinery dealer to export used textile machinery and
equipment worldwide. We continue to be one of the largest exporters of
used textile machinery even today.
Our employees are committed to their work and take pride in our
company and its desire to provide the necessary services to our
customers.
RTE utilizes over 100,000 square feet of space in York for its
sales and administrative functions and warehousing. Additionally,
Republic rents 70,000 square feet of warehouse for its inventory. The
company has always kept all its owned and rented facilities clean and
organized and the entire staff works continually to maintain all its
work areas in this manner.
Republic has dismantled and packed for shipment used textile
machinery all over the world. This insures proper delivery, in a
timely manner, of the machinery to the customer's plant.
 Due to NAFTA and GATT, the American textile market has suffered
dramatically. This has resulted in numerous plant closings and
Republic has been awarded many of these plants for liquidation. Our
experience in foreign markets has also been a factor in our being
awarded these plant liquidations. Banks, leasing companies and asset
based lenders increasingly rely on Republic Textile to handle disposal
of machinery and equipment that they acquired either at the end of
lease terms or through other means of forced liquidation.
Republic's experience and long time reputation in the textile
industry has also allowed banks, leasing companies and asset based
lenders to utilize this experience to provide market valuation
appraisals for this type of equipment. In order to meet this demand, a
sister company, Republic
Associates was created.
CURRENT SALES ORGANIZATION
Michael K. Diamond, President
SALES ENGINEERS
Douglas Diamond
Charlie Kimbrell
PLANT LIQUIDATION REFERENCES:
- Beau Knit Corporation,
Elizabethton, TN - Liquidation - $5M
- United Merchants Buffalo Plant,
Buffalo, SC - Liquidation - $2.5M
- Cone Mills, Pineville, NC -
Liquidation - $2.5M
- Johnathan Logan, Spartanburg, SC -
Liquidation & Auction - $5M
- Bodin Knits, Hialeah, FL -
Liquidation - $4M
- Greenwood Mills, Liner Plant &
Edisto Plant, Orangeburg, SC - Liquidation & Auction - $16M
- Kerr Manufacturing, Travelers
Rest, SC - Liquidation & Auction - $500,000
- Clearwater Finishing, Clearwater,
SC - Liquidation - $10M
- Sayles/Biltmore, Asheville, NC
-Liquidation - $3M
- Jantzen, Statesville, NC - Auction
- $2.5M
- Galey Lord Specialty Plant,
Society Hill, SC - Liquidation - 2.5M
- Callaghan Textiles (for CIT
Group), Charlotte, NC - Liquidation - $800,000
- Sanford Finishing, Sanford, NC -
negotiated sale - $2.5M plant
- Stoney Creek Knitting (for First
Union) - Liquidation - $2M
- Reeves Bros. (joint venture with
GE Capital) - $2M
- Anglo Fabrics - $1.8M
- Tennessee River - work in process
- Kreiger Corp. - $1.2M
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