Dixie Group to repay bank debt with plant sale proceeds

New York, Dec. 5 - The Dixie Group, Inc. said it plans to use proceeds from the sale of its Ringgold, Ga. spun carpet yarn production facility and funds generated from working capital reductions to reduce debt under its senior credit agreement.

The Chattanooga, Tenn. carpet and rug manufacturer is selling the plant to Shaw Industries Group, Inc. for $6.7 million in cash.

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