Founded in 1961, Elastic Corporation of America (ECA) is a producer of narrow elastic fabric for the apparel indudtry. In 1997 Worldtex Inc., a producer of elastic yarn, bought ECA for $76.3 million in cash and the assumption of $6 million in debt. ECA had been a division of the privately held NFA Corporation in Chelsea, Mass.
ECA Annouced in January 2007 that the company would close its Columbiana, Alabama facility and relocate to Honduras.
| Company name: | Elastic Corporation of America. |
| Closing date: | March 2007. |
| Jobs affected: | 200 (following earlier layoffs of about 100. |
| Location(s): | Columbiana, Alabama. |
| Type of facility: | Narrow elastic. |
| Union (if any): | Unknown. |
| Source(s) of information: | Shelby County Reporter, Shelby County, Alabama, January 30, 2007. |