Culp Inc was organized as a North Carolina corporation in 1972 and made its initial public offering in 1983. The Company manufactures, sources, and markets mattress fabrics used for covering mattresses, box springs, and foundations and upholstery fabrics for use in production of upholstered furniture. It has two operating segments - mattress fabrics and upholstery fabrics. The mattress fabrics business markets knitted and woven fabrics, and sewn covers made from those fabrics, which are used in the production of bedding products, including mattresses, box springs, and mattress sets. The upholstery fabrics business markets a variety of fabric products that are used principally in the production of residential and commercial upholstered furniture, including sofas, recliners, chairs, love seats, sectionals, sofa-beds and office seating. Its geographical areas include Canada, China, United States, Cayman Islands and Poland. It operates distribution centers in North Carolina and Shanghai, China to facilitate distribution of its products, and it recently opened a new distribution facility in Poznan, Poland. The Company markets products to manufacturers that operate in two principal markets. It competes with other manufacturers of fabric, as well as converters who source fabrics from various producers and market them to manufacturers of furniture and bedding. The Company is subject to various federal and state laws and regulations, including the Occupational Safety and Health Act ("OSHA") and federal and state environmental laws, as well as similar laws governing Company's manufacturing facilities in China and Canada.
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