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.
Factors that may cause actual outcome and results to differ materially from those expressed in, or implied by, these forward-looking statements include, but are not necessarily limited to, availability, sourcing and pricing of raw materials, the success of our subsidiaries, pressures on sales prices and volumes due to competition and economic conditions, reliance on and financial viability of significant customers, operating performance of joint ventures, alliances and other equity investments, technological advancements, employee relations, changes in construction spending, capital expenditures and long-term investments (including those related to unforeseen acquisition opportunities), continued availability of financial resources through financing arrangements and operations, outcomes of pending or threatened legal proceedings, negotiation of new or modifications of existing contracts for asset management and for property and equipment construction and acquisition, regulations governing tax laws, other governmental and authoritative bodies' policies and legislation, and proceeds received from the sale of assets held for disposal. In addition to these representative factors, forward-looking statements could be impacted by general domestic and international economic and industry conditions in the markets where the Company competes, such as changes in currency exchange rates, interest and inflation rates, recession and other economic and political factors over which the Company has no control. Other risks and uncertainties may be described from time to time in the Company's other reports and filings with the Securities and Exchange Commission.
SOURCE Unifi, Inc.