Collins & Aikman Acquires Remaining Interest Of Italian Joint Venture From Textron

    TROY, Mich., Jan. 21 Collins & Aikman Corporation announced today, that it had on
January 17, 2003, acquired from Textron Inc., the remaining 50% interest in an
Italian automotive joint venture.  Collins & Aikman paid $15 million for
Textron Inc.'s interest.  There was a $28 million put-option by Textron that
was exercisable in December 2004.
    Commenting on the purchase, Jerry Mosingo, Collins & Aikman's President &
CEO stated, "We are extremely pleased to acquire the remaining interest in the
Italian operation.  Having complete control over our Italian operations will
allow us to further implement our European strategy, capitalize on our 'One
Company' business model and provide a broader base to service our global
customers."
    The purchase includes four facilities producing interior and exterior
automotive trim components for strategic global customers in the region.
    Collins & Aikman Corporation is a global leader in cockpit modules and
automotive floor and acoustic systems and a leading supplier of instrument
panels, automotive fabric, plastic-based trim, and convertible top systems.
The Company's operations span the globe through 14 countries, more than 100
facilities and over 25,000 employees who are committed to achieving total
excellence.  Collins & Aikman's high-quality products combine superior design,
styling and manufacturing capabilities with NVH "quiet" technologies that are
among the most effective in the industry.  Information about Collins & Aikman
is available on the Internet at http://www.collinsaikman.com .