Ruddick Corporation has announced that its subsidiary, American & Efird, Inc. (A&E), has acquired an 80% ownership interest in Jimei Spinning Company Ltd. located in Hengshui City, Hebei Province, China on September 9, 2005. Jimei is a thread yarn spinning company created from the operations of Hengshui Yuanda Group Co., Ltd. with sales of approximately $14 million in 2004.

The thread yarn operations of Jimei will consist of a manufacturing facility located on the same complex as A&E's current thread yarn spinning joint venture, Hengmei Spinning Company, Ltd, in Hengshui City.. Simultaneously with this acquisition, A&E acquired an additional 20% interest in Hengmei from its joint venture partner Hengshui North Thread Industry Company, bringing its total ownership interest to 80%. North Thread has also entered into an agreement to acquire the remaining 20% ownership interest of Jimei from Yuanda.