Hickory Springs Acquires The C.E. White Co.

Acquisition Expands Hickory Springs Footprint in Transportation Seating Market

HICKORY, NC--(Marketwire - Jan 4, 2013) - Hickory Springs Manufacturing Company, a global manufacturer of integrated solutions and components to the furniture, bedding, transportation and a growing number of diversified markets, today announced the acquisition of The C.E. White Co., a manufacturer of quality seating products for the commercial/transit and school bus markets. As a result of the acquisition, Hickory Springs will expand its footprint in the transportation seating market and provide customers with a complete seating solution.

"Welcoming The C.E. White Co. to the Hickory Springs organization enhances opportunities for both companies as it leverages the core capabilities of each," noted Hickory Springs President and CEO David Colburn. "This acquisition makes Hickory Springs a more well-rounded player in the industry, able to capitalize on its unique competitive advantage as a producer of multiple components that can now be combined to create an integrated seating solution, and bringing new opportunities to C.E. White in the process."

The integration of both companies will take place over the next 90 days. In the meantime, C. E. White customers will continue to receive the same high-quality service they have come to expect from the New Washington, Ohio-based company.

"I cannot begin to express my excitement about this opportunity, which brings together the capabilities and resources of two very well-established and long-term companies to the benefit of both," said Tony Everett, president and CEO, The C.E. White Co. "I liken it to a three-legged stool. Hickory Springs offers two legs of the stool, or in this case the seat -- the metal frame and the foam -- and C.E. White brings the third leg -- cut and sewn covers and experience as a seat manufacturer -- to create a solid company with an integrated solution for the transportation seating market. As a result, we can anticipate increased business opportunities and a positive impact on the communities in which C. E. White operates.

"The same people will take care of our customers, and there will be no changes in company philosophy," Everett added. "In fact, Hickory's philosophy and C.E. White's are very similar. They are both family-based companies, customer-driven and customer-focused, and I'm confident a stronger company will emerge from this transaction."

The C.E. White Co. will continue to be headquartered in New Washington, Ohio. Everett will report directly to Lee Lunsford, executive vice president and chief operations officer at Hickory Springs, to ensure a smooth and successful merger.

About Hickory Springs Manufacturing
One of North Carolina's largest employers, Hickory Springs is a privately held company that brings together approximately 2,400 employees in more than 50 manufacturing plants in 16 states and China to serve a wide array of diverse customers and markets. Based in Hickory, N.C., the company has expanded its global presence and moved beyond core furniture and bedding markets to embrace new growth opportunities in transportation, healthcare, packaging and government sectors. Please visit www.hickorysprings.com for additional information.

About The C.E. White Company
Founded in 1936 as a mattress renovating company, The C.E. White Company entered the seating business in the 1950s. Today, as a leader in the industry, the company designs, develops, tests manufactures and sells a full range of seats and sewn covers for the commercial/transit and school bus market, with more than 200 customers in the United States and Canada. Its approximately 74 employees work in facilities in New Washington, Ohio, and Fort Valley, Ga.

Related Links:
Hickory Springs Manufacturing Company: http://www.hickorysprings.com/
The C.E. White Co.: http://www.cewhite.com/

Contact Information:

Sheryl Zapcic