Gildan Sells a Manufacturing Plant

Gildan Activewear (Montreal) has sold a yarn-spinning manufacturing plant in Mayodan, NC to fellow textile producer Milliken & Co., the Winston-Salem Journal reports.

The sale includes machinery, equipment, and inventory in the facility.

In a statement obtained by the outlet, Gildan said all 138 of its full-time employees at the Mayodan plant have been offered employment by Milliken.

“The sale of the Mayodan plant is part of Gildan’s yarn consolidation/modernization plans, which include investments over the next few years to consolidate and maximize efficiencies of our overall U.S. yarn operations intended to support the company’s textile capacity expansion plans,” the statement reads.

The company also said it has “no intention to further divest our spinning assets,” which include nine other US facilities.

Read more at the Winston-Salem Journal.