Yarn Producer Unifi Active in Acquisitions

Diversified specialty yarn producer Unifi intends to play an active role in the consolidation of the North American polyester and nylon yarn marketplace, the company said at the recent Lehman Brothers 2007 High Yield Bond and Syndicated Loan Conference.

The company, with fiscal 2006 sales of $738.8 million, acquired Dillon, S.C.-based Dillon Yarn in January for approximately $62.6 million. The goal is to lower costs and better compete with both regional and global suppliers.

"We do plan to selectively pursue additional acquisitions that make sense," said Unifi vp, coo and cfo William Lowe, speaking at the conference.

On the "green" front, Lowe also noted that business is booming for Unifi's recently introduced 100% recycled yarn line, Repreve. "We actually expect sales in 2008 to exceed our Sorbtek [moisture wicking] line," he said, adding that the green factor also has a financial component, as using recycled materials directly reduces the company's outlays for petroleum-derived materials. Home furnishings customers account for about 17% of overall Unifi business, Lowe said.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • The Countdown to the ICON Honors Continues featuring Christophe Pourny

    Camera Icon More Videos

CURRENT ISSUE

HTT digital edition

See the May 2017 issue of Home & Textiles Today. In this issue, we discuss our annual Market Basket survey, which finds higher prices and more polyester at leading retailers. See details!