Unifi Inc., Greensboro, N.C., will restructure its operations in order to cut costs and improve
earnings. Actions include plant closings and downsizing, reorganization, and reduction of salaried
employees. Approximately 400 jobs 10 percent of Unifis work force will be eliminated.
Brian Parke, president and CEO, said excess capacity, raw material price hikes and ongoing
import pressure challenge the US textile industry. “We expect that it will continue to be a
difficult market, but we are focused on defending our base business at a profitable level, while
growing our value-added product portfolio to enhance our earnings,” he said.
Unifi will close its Altamahaw, N.C., air-textured polyester production plant and move that
production and equipment to its Yadkinville, N.C., plant. Partially oriented yarn production in
Ireland will cease, and other operations in Ireland will be consolidated at one facility. The
company also will close its package dyeing plant in England.
Unifi will eliminate 50 salaried positions at its headquarters and certain US manufacturing
plants in order to reduce administration, selling and general expenses and allocated manufacturing
expenses.
April 2004
