USA: Cotton Producer Parkdale America To Close Two Factories

Yarn manufacturer Parkdale America is to close two of its North Carolina plants because of high imports, an oversupply of yarn in the market and overall poor business conditions. Its decision will affect 84 workers at its plant at Belmont which produces cotton and polyester/cotton open-end yarns, and 34 workers at its plant at Kings Mountain which produces all cotton open-end yarns.