GREENSBORO, N.C., Aug. 14, 2013 /PRNewswire/ -- Unifi, Inc. (NYSE: UFI) announced today that it has purchased nine DTY (drawn textured yarn) machines and a sample machine, all of which will be relocated to the Company's Yadkinville, N.C., manufacturing facility. The purchase will increase the Company's production capacity in the growing regional market, while also providing additional flexibility to support the production of the Company's successful portfolio of premier value added products. Terms of the purchase, which was made through a broker, were not disclosed.
"The number of lot changes required to support the needs of our customers has grown substantially over the years, which puts a premium on flexibility and the ability to provide shorter production runs and quicker turnarounds within our manufacturing process," said Roger Berrier, President and Chief Operating Officer for Unifi. "The investment in the nine DTY machines will increase our capacity to support our overall volume growth, and will advance our objective of growing the volume of our premier value added yarns by 20 percent annually. The new sample machine will provide additional product development capacity, which will allow Unifi to stay at the forefront of product innovation."
Regional supply of synthetic apparel, which includes the U.S., NAFTA and CAFTA, has increased steadily since 2009. The region has maintained its overall share of synthetic apparel supply, as brands and retailers continue to remain committed to regional sourcing as part of their overall sourcing plans.
"The continued growth of synthetic apparel production in the region will lead to ongoing opportunities for the Company. This investment adds to our capacity and helps assure Unifi will be in a position to supply the increasing regional demand," said Bill Jasper, Chairman and CEO of Unifi. "Many of our customers choose to source their products from this region, and Unifi's continuing investment in the Americas demonstrates our commitment to servicing their needs."Unifi, Inc. (NYSE: UFI) is a diversified producer and processor of multi-filament polyester and nylon textured yarns and related raw materials. The Company adds value to the supply chain and enhances consumer demand for its products through the development and introduction of branded yarns that provide unique performance, comfort and aesthetic advantages. Key Unifi brands include, but are not limited to: AIO ® - all-in-one performance yarns, SORBTEK ®, A.M.Y. ®, MYNX ® UV, REPREVE ®, REFLEXX ®, MICROVISTA ® and SATURA ®. Unifi's yarns and brands are readily found in home furnishings, apparel, legwear, and sewing thread, as well as industrial, automotive, military, and medical applications. For more information about Unifi, visit www.unifi.com, or to learn more about REPREVE ®, visit the new website www.repreve.com. CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS Certain statements included herein contain forward-looking statements within the meaning of federal securities laws about Unifi, Inc.'s (the "Company") financial condition and results of operations that are based on management's current expectations, estimates and projections about the markets in which the Company operates, as well as management's beliefs and assumptions. Words such as "expects," "anticipates," "believes," "estimates," variations of such words and other similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in, or implied by, such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's judgment only as of the date hereof. The Company undertakes no obligation to update publicly any of these forward-looking statements to reflect new information, future events or otherwise.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV