Company Profile
On September 23 2008 American Fiber and Yarns filed Chapter 11 bankruptcy. Production at
its Bainbridge, Georgia was scheduled to cease on October 15, laying off 250 workers.
The company was started in 1965 as Phillips Fibers Corporation, a subsidiary of Phillips Petroleum Company.
In 1993 Phillips Fibers Corporation was purchased by Amoco Fabrics and Fibers Corporation, a subsidiary of Amoco Oil Corporation.
In 1999, Amoco Fabrics and Fibers Corporation spun off the fibers division and sold it to a private equity firm,
Monitor-Clipper Partners, of Cambridge, Massachusetts. The new company, American Fibers and Yarns Company (AF&Y),
was headquartered in Chapel Hill, North Carolina.
American Fibers and Yarns Company was a
producer of polyolefin solution dyed yarns in flat, flat-entangled, BCF, air textured, false twist textured, TaslanŽ, and fancy/novelty constructions.
The company was a member of NTA from August 10, 2002 through December 27, 2007.
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