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POSNER RAISES GUILFORD MILLS STAKE; COMPANY TO PHASE OUT GEORGIA PLANT
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POSNER RAISES GUILFORD MILLS STAKE; COMPANY TO PHASE OUT GEORGIA PLANT

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Miami Beach takeover artist Victor Posner has bought more shares of Guilford Mills stock, while the Greensboro-based textile company separately announced plans to close a 300-employee plant in Augusta, Ga.

Guilford Mills said costs of closing its 5-year-old Augusta plant totaled $39 million, causing a loss of $22.6 million, or $2.34 per share, in the quarter ended Dec. 31. The move followed a 13 percent decline in sales during the quarter to $124.69 million.See microfilm records for the full text of this story.

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