Bonar Yarns makes polyproylene backing for carpet and yarns used to make weather stripping. The company said Friday that it will sell off all of its assets and inventory from its Williamston plant. It plans to put the building up for sale by May 31. Mark IV Automotive Dayco, also known as Mark IV Automotive, makes power steering lines for automakers including Ford and DaimlerChrysler. The plant's manager said that a slowdown in the auto industry is forcing the company to cut about 25 jobs, or 5 percent of its work force.
Experts say that it's a sign of the times for the automotive industry.
Livingston said that these are arguably the toughest economic times that our country has seen in 75 years. He said that the first to go are big-ticket items like houses, appliances and cars. Mark IV Automotive makes power steering lines for companies like Ford and DaimlerChrysler. But local leaders said that Mark IV has been trying to help out their employees. They are good employers.