Greenboro, N.C.-based Unifi Inc. reports its operating subsidiary Unifi Manufacturing Inc. entered into an agreement to acquire the dyed yarn business and other assets of Washington, N.C.-based National Spinning Co. Inc. The transaction adds acrylic and wool products to Unifi’s dyed yarn portfolio, and is expected to close in May. Unifi reports it will transition the dyed yarn business from Burlington, N.C., to Unifi’s dye house in Reidsville, N.C., and expects to run the dye house on a seven-day schedule. National Spinning employees will be offered positions at Unifi including those in key sales, technical and operations positions.
“This acquisition will better position Unifi for growth in key market segments such as sweaters, hosiery and apparel, as our expanded dyed yarn portfolio will help strengthen our relationship with existing customers and brings opportunities to attract new customers as we become an even greater solutions provider,” said Tom Caudle, president and COO, Unifi. “Additionally, our customers continue to focus on shortening product development and production lead times, and thus we expect that these new capabilities will allow us to provide flexible and responsive dyed yarn solutions to meet this demand. Expanding our product portfolio will also bring additional innovation to the dyed yarn supply chain, and will provide more sourcing flexibility for customers while assuring continued capability and expertise.”
“We believe this transaction best serves the long-term interests of both our employees and our customers,” said Jim Booterbaugh, president and COO, National Spinning. “Customers will receive world-class innovation and technical support from Unifi, and employees that join Unifi will benefit from the career opportunities provided by a larger portfolio of products, services and solutions.
May/June 2018
