Yarn maker Unifi Inc on Thursday said it has entered into three separate contracts to sell the plant and equipment from its shuttered Irish sites for $37 million.

The Greensboro, NC-based company closed its unprofitable Textured Yarns Europe division, based in Letterkenny in Ireland, at the end of October 2004 with the loss of around 300 jobs.

It said all transactions relating to the sales should be concluded 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.