American Fibers & Yarns closes two US plants; files for bankruptcy protection

24-Nov-08

American Fibers & Yarns Co. (AF&Y), a major supplier of solution-dyed polypropylene filament yarns has shuttered its two plants in Bainbridge, Georgia, and Afton, Virginia. The reasons cited for the decision are the increased outsourcing in upholstery fabrics, high PP resin prices, competition from the polyester products and availability of low cost imports. AF&Y plans to liquidate its assets under Chapter 11 bankruptcy protection and its decision will result in approximately 330 people loosing their jobs. AF&Y supplied solution-dyed PP filament yarns for residential and contract furnishings fabrics, industrial, automotive and apparel applications under the name Marquesa® and Innova® yarns.