DuraFiber Technologies a global supplier of high-tenacity polyester fibers, engineered fabrics, sewing threads and advanced materials, has announced that it has taken the next steps to prepare its production facilities in Salisbury and Shelby, N.C., and Winnsboro, S.C., to be idled if a buyer is not identified by September 11.
According to the company, this action follows a series of initiatives to lower production costs in response to increased competition in the textile industry, as well as a thorough review of strategic alternatives, including potential asset sales.
“While today’s announcement is a difficult one to make, increased labor, energy, transportation and raw material costs, in addition to continued market pressures, have strained DuraFiber’s finances to a point that is no longer sustainable,” said CEO Frank Papa. “ Our team will work diligently to ensure a smooth transition for our employees, customers, and suppliers during the next 60 days, even as we continue to pursue strategic alternatives to keep these plants open.”
DuraFiber employs approximately 800 workers at the three plants impacted by this action and 1,800 employees globally. The company’s international operations in France, Germany, and Mexico are unaffected by this action.