Tire cord supplier DuraFiber selling assets

Huntersville, North Carolina — Tire cord supplier DuraFiber Technologies has put its three US plants on closure notice and agreed to sell polyester yarn plants in France and Mexico, effectively putting the firm out of the tire cord business.

DuraFiber CEO Frank Papa cited increased labour, energy, transportation and raw materials costs, together with continued market pressures, as reasons for the closure notices in North Carolina and South Carolina, saying they have “strained DuraFiber’s finances to a point that is no longer sustainable.”

Separately, DuraFiber…

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