MCADENVILLE, N.C. (AP) — A longtime North Carolina-based yarn manufacturer is getting out of the textile business.
Pharr announced this week it’s selling three of its five divisions early next year.
News outlets report Pharr Fibers & Yarns and Phenix Flooring will go to Mannington Mills, based in Salem, New Jersey. Pharr High Performance will be purchased by London-based Coats Group. Terms weren’t disclosed.
The changes will leave McAdenville-based Pharr with its Belmont Land & Development real-estate arm and Strand Hospitality Services, which manages hotel properties.