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CTC 2023 Review – 2024 Outlook

CTC 2023 Review - 2024 Outlook

Champion Thread Company (CTC), Gastonia, N.C., experienced “steady” market share growth in 2023, said Jim Lee, vice president of Sales.

According to Lee, “While we were not immune from the softness in the retail-related markets, the industrial and advanced textiles and sewn products segments were, fortunately, less impacted by the employment, wages, prices/inflation, interest rates, consumer confidence and other factors affecting the demand for consumer goods.”

“We are pleased that our ongoing efforts to enhance customer service, increase customer options, and field unique products are continuing to produce substantial increases in market share,” added Lee.

CTC’s significant strides in market share are primarily the result of the company’s multi-year initiatives to bolster lean, flexible manufacturing operations and investments in the domestic workforce and supply chain.

“Investments such as the opening of our new South Carolina dyehouse in early 2023 have helped us solidify our positioning as the go-to, on-time supplier of industrial sewing threads and engineered yarns for textile and sewn products companies throughout North America,” he said. Lee described the company’s extraordinary decision to build a new dyehouse, one of only a few such dyehouses built in the USA in a generation, as a “smart investment” that is already enabling CTC to increase customer service levels measurably.

Looking ahead, Lee cited the economy and economic policies as the wildcards that make forecasting and long-term visibility into market performance difficult. Echoing the positive outlook of many of its customers, Lee said, “CTC is optimistic for increased demand in 2024 as we celebrate our 45th year in business.”

“We will capture this growth through continued investment in new product development, production and service teams, and customer service levels. In contrast to most suppliers, CTC is expanding its flexibility through new product offerings, customized products, and customer-centric sizing and packaging,” he said. originally published this content on January 12, 2024

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