CMI Industries, Inc announced yesterday that it has entered into a non-binding Letter of Intent to sell substantially all of the assets of the Clarkesville, Georgia plant of their Greige Fabrics Division. Under the terms of the Letter of Intent, CMI will sell the assets to a management group which will include Joshua T. Hamilton, the former president of CMI's Greige Fabrics Division and Ronald P. Luzzi, the current executive vice president of marketing for CMI's Greige Division.