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Unifi Expands Manufacturing in Central America

Unifi signs a non-binding letter of intent to form a joint venture in Guatemala. 

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GREENSBORO, N.C.-Unifi signs a non-binding letter of intent to form a joint venture in Guatemala. The venture includes two recycling, spinning, and texturing companies in the Central American country; Complast S.A. and Technologia Textil Avanzada (TTA). Under the proposed structure, Unifi’s ownership is 51 percent, while Complast and TTA’s combined ownership sits at 49 percent.

“Central America has been a region of focus for brands and retailers over the past few years, as apparel programs are sourced closer to the U.S.,” says Tom Caudle, president of Unifi. “The growth in the region is key to our strategy of building our REPREVE and other value-added brands.”

REPREVE is the company’s proprietary textile fiber made from synthetic, recycled materials such as plastic bottles. The finished fibers are used in a variety of soft goods including clothing. While many companies still manufacture apparel in Southeast Asia, countries like Guatemala and Honduras are also bustling hubs for clothing production. Unifi says its expansion in the region will address a “key apparel-producing market that requires compliant yarn.”

The move takes place as Unifi continues to expand globally. Since 2015, the company has added manufacturing and distribution in countries such as Vietnam, Sri Lanka, and Turkey.  

The transaction between the three entities is expected to close by the end of 2017.

For more information, visit http://unifi.com/

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Mike Clark

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