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, CEO
Manuel Galban, President
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