The most dramatic breakthrough came in 1970 as Courtaulds, the textile giant, was upgrading its machinery and selling off cheaply equipment which had been built to last for years.

For the moment, Odyssey has edged out a competing bid from West Point-Pepperell Inc. with a friendly offer of $1.14 billion in cash for the textile giant.

The 26,000 employees and managers of Burlington Industries have acquired a majority ownership and voting control of the textile giant.

After the war, he was hired by Roger Milliken, who ran the textile giant Deering-Milliken, to head the company's wool fabric division.

The present company, WestPoint Home, is a conglomerate of three textile giants, all with rich company histories.

Most notable were the workers of Kamensko, a former textile giant, which protested because they have not received severance payments or salaries.

By agreeing to sell the textile giant's Cluett Peabody division for far less than he had hoped, he could find it difficult to obtain further financing.

One of those most frequently cited is the textile giant, Reliance Industries, which until recently was the fastest growing company in the country.

But he joined Burlington Industries Inc., the textile giant, later that year as vice president for corporate planning.

If Pepperell steps aside without raising its bid, the agreement with Odyssey will end a three-month battle for the textile giant.