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January 27th, 2005
Ross diversifies interests in distressed firms
Just when it appeared that Wilbur L. Ross had turned into a steel magnate, he began diversifying into cloth and coal.
Ross intends to make Burlington the low-cost producer of products such as men's suits, blue jeans and decorative fabrics in the United States and Mexico. He also has committed $30 million to using nanotechnology, the science of the very small, to stay competitive with manufacturers trying to finding ways to make clothing more wrinkle and stain resistant.
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