The investment would also generate over 200 jobs at the plant in the next five years.
Unifi Kinston LLC said in the filing it has entered into a Asset Purchase Agreement with Reliance Industries USA which provides for the sale of all remaining assets and structures, located at the Unifi Kinston's polyester manufacturing facility for $ 12.2 million.
In a separate statement, North Carolina Governor Michael F Easley said that Reliance Industries USA would open its first North American manufacturing facility near Kinston.
"The company will create 204 jobs during the next five years and invest $ 215 million in a plant to manufacture a resin used in the production of plastic containers and specialty polyester yarns," the statement added.
From the sale proceeds, Unifi Kinston would pay $ 3.6 million to E.I. DuPont de Nemours as part of demolition and removal obligations created by the asset sale.
US-listed Dupont had a manufacturing alliance with Unifi.
Unifi Kinston expects to record a gain of about $ 6.9 million upon completion of the sale.
