Unifi sells plant

The US yarn maker Unifi INC announced last week that it is selling its plant and equipment from its shuttered Irish sites for $37 million. The Greensboro, NC-based company closed its Textured Yarns Europe division, based in Letterkenny, Ireland, at the end of October 2004, due to unprofitability. This cost around 300 employees their jobs.

The company announced that all transactions related to the sale would be complete by the end of September 2005. "The favourable terms and timing of these contracts allow Unifi to aggressively pursue our growth plans in Asia without incurring additional debt," said Brian Parke, Chairman and CEO for Unifi.