TABLE OF
CONTENTS

ALBA-WALDENSIAN, INC.

IMPORTANT
INFORMATION

Alba-Waldensian is the oldest manufacturing company originating and operating in Burke County. On May 8, 1901, with a $40 loan from the Waldensian Presbyterian Church and a $1,500 loan from a New Jersey financier, John (Bobo) Garrou, Sr., Francis Garrou, Sr., and Antoine Grill founded Waldensian Hosiery Mills.

The original plant was 40' x 80', built with timber from the owners' farmlands and covered with corrugated metal. Standard daily wages for the twenty employees were 40-50¢ for men and boys and 35¢ for women.

In 1910, John Garrou, Sr. sold his stock to his three sons (John Louis, Henry F., and Albert F.) who became the second Waldensian generation to operate the company. The company remained a family enterprise for many years.

In 1961, Waldensian Hosiery Mills merged with Alba Hosiery Mills to form Alba-Waldensian, Inc. and, in 1969, began to offer its stock on the American Stock Exchange under the ticker symbol: AWS.

Traditionally a producer of men's and women's hosiery products, Alba developed a new method of manufacturing women's stretch panties on full fashion knitting equipment in the mid-fifties. In 1974, the company introduced it's first low-tech, consumable medical specialty products that utilized its considerable knitting expertise. The health products business has grown steadily and today, the Alba Health Division is a leading manufacturer and marketer of products used in hospitals, nursing homes, physician offices, and extended care facilities throughout the world.

The Health Products Division continued to grow in 1994 by acquiring the Pulsatile Anti-Embolism System (PAS), thereby doubling its vascular care business. In early 1995, the Company acquired the Balfour Healthcare Division, thereby doubling the size of its healthcare division. During 1995 and 1996, the Company consolidated all health products manufacturing into the Rockwood, Tennessee facility that was part of the Balfour acquisition. At the same time, the Valdese facilities were dedicated to consumer products manufacturing.

As of 1999, Alba employed 500 persons in the Valdese area and 300 in Rockwood, Tennessee.

In March 2003, Alba ceased production operations in Valdese and converted facilities to handle distribution.

Little known fact...The name "Pampers" originated in Valdese when in 1954, Alba ventured into a new line of "Pamper Pants." The trade name was later sold to the diaper manufacturer.

Below are some pictures of Alba's manufacturing process and its history.

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