DAK Americas plans to close all operations at its Cape Fear site near Wilmington, North Carolina, the company confirmed on Thursday.
The site was built in the late 1960s and acquired by DAK Americas in 2001. Approximately, 350 full service employees and 250 contract workers are employed on-site to produce PTA, PET resins and polyester staple fibers.
We acknowledge that this business decision is very difficult for our employees and thank them for their dedication and commitment to our industry for more than 40 years," said Jorge Young, president of DAK Americas.
"Closure of the site will allow us to further improve our low cost position by supplying the vast majority of the Cape Fear site customers from our other North American facilities," he added.
DAK Americas remains dedicated to the polyester value chain and supplying trade leading products and services through its six remaining production facilities in the Americas.
The closure of the site is expected to be completed by September 2013. Employees will be given timely notice and will be provided with a comprehensive separation package as part of the closure, according to the company.