Vardhman operates the second largest thread company in India with thread related sales of approximately $69 million in fiscal year 2007 and has been licensed to manufacture and sell A&E branded products in India since March 2001. Vardhman contributed all of its sewing thread operations to the joint venture and A&E contributed approximately $24 million in cash. The joint venture will operate under the name Vardhman A&E Threads Limited with its headquarters in Ludhiana, located in northern India.

Vardhman is a major integrated textile producer in India, manufacturing and marketing yarns, fabrics, sewing threads, fiber and alloy steel, with total consolidated sales of approximately $476 million in fiscal year 2007.

Thomas W. Dickson, Chairman of the Board, President and Chief Executive Officer of Ruddick Corporation commented that, “We are very excited about this joint venture and the opportunity to grow the business together in this important region of Asia. This also represents another step in the transformation of A&E’s business to a more Asian-centric global supplier of sewing thread, embroidery thread and technical textiles. In connection with this transformation, Ruddick and A&E continue to evaluate A&E's structure to best position A&E to take advantage of opportunities available through its enhanced international operations.”

Ruddick Corporation is a holding company with two primary operating subsidiaries: Harris Teeter, Inc., a leading regional supermarket chain with operations in eight southeastern states and American & Efird, Inc., one of the world’s largest global manufacturers and distributors of industrial sewing thread, embroidery thread and technical textiles.

Frontier Spinning Mills is one of the world’s largest producers of spun yarns for the knitting and weaving industries and holds market leading positions in open-end spinning. Offering a diverse product line to fulfill the demands of customers worldwide, Frontier applies state-of-the-art automated technology and innovation to every phase of its yarn manufacturing process. Yarn produced by Frontier is used in sportswear, undergarments, socks, sweaters, fleece, denim, and home furnishings.

“This investment is a demonstration of INVISTA's commitment to bring innovation into existing markets and to seek value-adding offerings for new markets,” said Jeff Brown, vice president of INVISTA Performance Materials Nylon.

INVISTA believes that advances in technology and engineering of nylon 6,6 and modified nylon products will lead to the development of differentiated new products, offering valuable solutions in existing and new markets. Already a world leader in high-performance nylon fiber production, INVISTA’s Performance Surfaces and Materials business will use the new facility to continue in the direction of next-generation nylon technology.

“Waste reduction and efficiency improvements in our operations are important elements in our continued goal to conserve resources and enhance environmental stewardship,” said Brown. “This investment will not only be capable of generating step change innovation in new products, it will also be used to improve the output and yields of existing processes.”

INVISTA’s Performance Surfaces and Materials business provides innovative solutions for INVISTA’s global surface-focused segments including residential, commercial, area rugs, bedding, sheets, pillows and comforters; its automotive-focused segments such as airbags and automotive flooring; and its industrial nylon offerings. Consumer brands brought to market include STAINMASTER^® carpet, ANTRON^® carpet fiber and CORDURA^® fabric.