Jo-Mar Spinning to shutter, dismiss 145 employees within 2 weeks - | WBTV Charlotte

Jo-Mar Spinning to shutter, dismiss 145 employees within 2 weeks

CHARLOTTE, NC (Ken Elkins/Charlotte Business Journal) -

Jo-Mar Spinning will halt operations in Belmont, eliminating 145 jobs within the next two weeks.

The yarn-spinning operation, which had a capacity of 1 million pounds a month, will close Sept. 30.

"The closing is considered permanent," Josh Hamilton, president of Jo-Mar, wrote in a letter to the N.C. Commerce Department.

He blamed increased imports, specifically additional U.S. trade with Canada and Mexico brought on by the NAFTA, as the cause of the closing.

Jo-Mar is owned by Honduras-based Grupo Karims, which also has other Central American textile and apparel units, real estate holdings and the Ocean View Resort in Campeche, Mexico.

The Jo-Mar Spinning facility is located at 101 Plum Street in Belmont.

Hamilton wrote that Jo-Mar wasn't covered by requirement under the federal Worker Adjustment and Retraining Notification Act because the company was "engaged in recapitalization activities."
WARN requires companies to notify the state Commerce Department 60 days before large layoffs are scheduled.

Jo-Mar Spinning opened during the summer of 2010 inside the former R.L. Stowe Mills Inc.'s Helms Plant in Gaston County.

The company planned then to initially hire 100 employees and spend about $1 million to equip the plant for production.

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