Unifi Closing Kinston Plant

Unifi says it will close its Kinston plant, putting some 260 people out of work.

The plant makes yarn and Unifi acquired the facility in September 2004. Unifi says it came down to a "make-versus-buy decsion" for the Kinston plant. Unifi says it will continue to make the yarn at its Yadkinville facility.

The Kinston plant will start shutting down on October 2nd, while Unifi expects all operations to cease by November 30th.

Annual savings from the closure are expected to be about $12 million.