STERLING SHUTTING UNIT, CUTTING 160 POSITIONS
Byline: David Grant Caplan
NEW YORK — Acrylic maker Sterling Fibers said last week that it will shutter its commodity acrylic fiber textile business, cutting more than 160 jobs.
The Pace, Fla.-based company said it will continue to produce its technical products, which include Conductrol, BioFresh and WeatherBloc.
The announcement comes just days after the Pace, Fla.-based company said it planned to increase the price of its commodity acrylic fibers by 8 to 15 percent, beginning April 1.
In a statement, the company said the decision to cease the unit’s operations occurred after “recent rationalization and cost-reduction programs have failed to return the business to profitable levels.”
The statement also cited competition from abroad and rising fuel costs.
The company said about 160 jobs will be cut in mid-March at its manufacturing facility in Pace, located in Santa Rosa county in the Florida Panhandle.
About 35 employees involved with the marketing and manufacturing of the firm’s technical products will remain at the plant.
In addition to the Pace layoffs, offices in North Carolina, New York, New Jersey and California will close.