Now, Hanesbrands packing it in...
By Number Six
Monday, September 25, 2006 at 03:55 AM
Yep, dear old Hanesbrands is packing up Mexico and US plants...This is somewhat amazing: Closing down the Monclova, Mexico facility??
Hanesbrands (up $0.69 to $22.62, Charts) said it will close plants in Monclova, Mexico and Lumberton, North Carolina, to shift sewing operations and fabric manufacturing to Central America or the Caribbean basin. The company's Marion, South Carolina, location will stop making sheer hosiery by the end of February and those operations will be moved to an existing Clarksville, Arkansas plant.
So lovely. We poor rednecks here in the Carolinas have seen this firm close up many a plant, all claiming to do it for "streamlining" reasons, natch.
But closing down Mexico? That's amazing. Off to central America, of course, thanks to CAFTA, yet another brilliant move for the cause of globalization (read: World Feudalism).