Posted May 5, 2014

 

HUNTERSVILLE, N.C. – Facing intense pressure from offshore competition, Performance Fibers, Inc., said it will close a production site in New Hill, N.C., and transfer production to its facility in Salisbury, N.C.

 

Performance Fibers, the only producer of polyester industrial filament products in the U.S., said it plans to invest $25 million in the next 21 months to modernize, improve product quality and create a “product development center of excellence."

 

In the next 15 months, the company plans to close its 43-year-old plant Moncure plant in New Hill, where about 230 people work. About 60 of those jobs will be transferred to the Salisbury location, where about 200 people currently work.

 

"Over half of the tires purchased in the U.S. are now coming from imports rather than domestic production,” said Wahid Tawfik, CEO for the Americas and Europe. “United States tire manufacturers are our customers, and they are facing considerable and growing competitive pressure. “Likewise, Performance Fibers faces a double impact with offshore competitors offering similar reinforcement products at lower prices imported into our home markets,” he added.

 

The company has about 3,000 employees in Mexico, China, Germany and France, as well as five locations in North Carolina.