Blair Mills, in Belton, will be laying off people through the end of the year, according to Bill Rice, company president.
Rice said 250 people will lose their jobs by the end of the year. The jobs will be phases out as people are hired by other companies.
Blair Mills is working with other personnel managers in the area to find jobs for those now employed.
A company in Georgia, 1888 Mills in Griffin, will be relocating some of the equipment, Rice said.
The Georgia company has agreed to purchase name, patent, trademarks, equipment and customer lists from Blair Mills. The product line will continue starting in early 2009.
Blair Mills LP is the largest maker of institutional terry products in the United States according to the company's Web site.
It has been in Belton since 1906.
"102 years is a pretty good run," Rice said.
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