CHARLOTTE, N.C.—Performance Fibers will close its production facility in New Hill, N.C., and transfer production to its facility in Salisbury, N.C.
The firm said it production site in Salisbury has the capability and capacity to absorb all of the customer volume with surplus capacity and space to grow.
Performance Fibers plans to invest $25 million over the next 21 months for footprint rationalization in North America, modernization of equipment in North America and Europe, step-change improvements in product quality and the creation of a product development center.
The New Hill facility is expected to close after all products are transferred, which the firm said is expected to be completed over then next 12 to 15 months.
The sites are about 110 miles apart.
New Hill produces PET polymer and spins multifilament fiber, according to Performance Fibers. It employs 235, with90 percent of its production concentrated on tire reinforcements, the rest on other reinforcements.
Salisbury primarily produces PET polymer and spins multifilament fiber, employs 200 with 15 percent of its production focused on tire reinforcements and 85 on other reinforcements.
Performance Fibers did not say whether employees from New Hill will be transferred to Salisbury.