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Textile News

A Textile Leader Innovator And Visionary
June 1, 2001

Spartan International Closes Mills
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Texquote Launched For Sourcing Products
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Milliken Stages Earth Run 2001
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Repositioning For Efficiency
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Mr Hayes Goes To Washington
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Valdese Weaves ERP Success Story
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Assets Of Unifi Technical Fabrics To Be Acquired By Avgol Nonwovens
GREENSBORO, N.C. -- Unifi, Inc. (NYSE: UFI) announced that it has reached an agreement in principle to sell the assets ofits wholly owned subsidiary Unifi Technical Fabrics, LLC, to Avgol NonwovensIndustries of Holon, Israel. The agreement, which includes Avgol taking possession of Unifi TechnicalFabrics' (UTF) 125-acre site in Mocksville, N.C., is part of Unifi's ongoingeffort to focus more closely on its core business as a global leader in theproduction of synthetic fiber and yarns. "While we appreciate the long term growth potential of the nonwovensbusiness, the next phase of the UTF growth plan called for significantadditional capital investment," said Billy Moore, chief financial officer ofUnifi. "We felt that at present, our company and shareholders would best beserved by focusing our capital resources on our core businesses and using theproceeds from this sale to reduce debt." "This is a &#
May 1, 2001