08/26/04 — DuPont employees face pay cut

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DuPont employees face pay cut

By Sam Atkins
Published in News on August 26, 2004 2:00 PM

DuPont employees to face pay cut

KINSTON -- Employees of the former DuPont plant will face a 20 percent pay cut once the company is acquired by Unifi in September, according to an article in the Kinston Free Press.

Koch Industries, which is based in Kansas, acquired the plant when it purchased DuPont's Invista division in May. Koch announced that the plant would be sold to Unifi, which is based in Greensboro. The deal is expected to be worth $21 million.

Unifi is still deciding what its plans are for the employees at the plant, the article said. Unifi will acquire the polyester filament manufacturing assets at the Kinston plant.

About 1,000 full-time and contract employees worked for the Invista plant as of April. About 40 of them worked for DuPont. Unifi's purchase will include 775 workers. Koch had no comment regarding the other 200 employees at the plant.