Kayser Roth confirms expansion

September 3, 2013

GREENSBORO — No nonsense recognizable legwear brands in America, made by Kayser-Roth, announced Tuesday a “Sock Initiative” with Walmart that expands its Made in the USA program.

No nonsense will invest up to $28 million in its existing operations in Burlington and Asheboro enabling No nonsense and Walmart to offer more Made in the USA products to consumers and create 100 more jobs in the United States.

Randolph County commissioners and Asheboro City council members approved an economic incentives package for Kayser-Roth Corp. on Aug. 17 to aid in the expansion at the Kayser-Roth plant, located at 515 W. Balfour Ave. in Asheboro.

Local governments approved a plan, upon Kayser Roth’s compliance with certain performance requirements for the expansion of the corporation’s existing business operations in Asheboro and Randolph County, to make three cash incentive payments totaling $150,000 over a minimum of three fiscal years. Each government would pay 50 percent of the total.

In exchange, Kayser Roth will commit to a minimum investment of $10 million in real and personal property locally and the creation of 50 new jobs in Randolph County.

Company officials said in a press release Tuesday that Made in the USA is, and has been, a core strategy of Kayser-Roth for more than 50 years, and its signature brand — No nonsense — produces more than 90 percent of all its tights, socks and sheer hosiery in the United States.

“Walmart is proud to be working with suppliers like Kayser-Roth to increase domestic production and create jobs that will support the middle class,” said Bill Simon, president and CEO, Walmart U.S. “Growing business with existing suppliers supports our goal of purchasing an additional $50 billion in U.S.-manufactured products over the next 10 years.”

“The No nonsense Sock Initiative with Walmart represents a business model demonstrating our mutual commitment, cooperation and trust with all stakeholders in creating more jobs and more Made in the USA products,” said Kevin Toomey, president and chief executive officer of Kayser-Roth. “We’ve figured out how to make a better product at a better price here in America, and working with Walmart has been a tremendous asset in creating more jobs here at home”

Toomey said in an interview at the Aug. 17 meeting that expansion could begin as early as the fourth quarter this year or early in 2014.

Source: Courier-Tribune