Unifi, Jassin-O’RourkeSeminars Show CBI At WorkA series of seminars hosted by Unifi Inc.,
Greensboro, N.C., and New York City-based Jassin-ORourke Group LLC, and designed to help companies
understand how to profitably market the Caribbean Basin Initiative (CBI), recently took place in
Greensboro, New York City, the Dominican Republic, Honduras, El Salvador and Guatemala. U.S.
knitters, weavers and converters of polyester- and nylon-content fabrics, and CBI apparel
manufacturers learned how to better leverage CBI advantages through the supply chain.Michael
Delaney, senior vice president, Unifi, noted that 60,000 textile jobs have been lost due to a
consumption slowdown and import growth. However, U.S. textile market potential is getting bigger,
not smaller. The increase was 7 percent in 2001. Asias market share dropped 70 percent, while
market share from Mexico and CBI countries increased between 30 and 40 percent.Stewart Little,
senior vice president, Unifi, said apparel manufacturers and retailers have no conception of the
CBI advantages in cost and quick turnaround. Mary ORourke, managing director, Jassin-ORourke, said
the CBI can drive growth for companies through elimination of tariffs on textile apparel imports
that contain U.S.-manufactured fabrics and yarns. U.S. companies that leverage CBI advantages
through the supply chain can demonstrate to customers down stream an edge over Asian prices and
time-to-market.Turnaround time is faster from Honduras, ORourke pointed out. Retailers and
manufacturers can eliminate up to six weeks of lead time. With shorter order cycles and quick
replenishment of stock and reorder options, companies can carry decreased inventories.ORourke
stated the view that the domestic textile industry is commodity-oriented, requires large minimums
and long lead times is no longer true. There is also a misconception that Asian fabrics are
cheaper.Eight Caribbean countries represent 95 percent of the apparel business, each having its
special niche. Today, the experts agree, manufacturers and retailers must be shown how a
full-package apparel program is an economic advantage and a cost saver.
February 2002

Malden Mills Receives FundingLawrence, Mass.-based Malden Mills Industries Inc., which recently
filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code, has received $20 million in
funding from its lenders to enable it to continue operating during the reorganization process.This
reorganization allows Malden Mills to emerge from the challenges we have faced since the
catastrophic fire that nearly destroyed our company in late 1995, said Aaron Feuerstein, president
and CEO, anticipating that the 95-year-old company will emerge as a stronger, more highly focused
and profitable company.Following the fire, Feuerstein immediately rebuilt the companys facilities
in Lawrence, continuing to pay his employees during the reconstruction. The new Polartec® building
was the first mill built in New England in more than a century.The company filed for reorganization
due to the cost of servicing bank debt, a sluggish retail market, high reconstruction costs and the
closing of its upholstery division following the fire. Maldens patented Polartec fabrics are used
for all outdoor activities and are the sole fabrics used in cold-weather gear for the U.S. Army,
Marine Corps and Special Operations Command.
January 2002

National Spinning AcquiresTwo Glen Raven FacilitiesNational Spinning Co. Inc., Washington, N.C.,
has acquired the open-end spinning and package-dyeing business of Glen Raven, N.C.-based Glen Raven
Inc. The acquisition includes two plants located in Alamance County, N.C., which are now integrated
into Nationals operations as Alamance Spinning Plant and Alamance Dyeing Plant of National
Spinning. More than 200 associates at the plants are now among Nationals base of 1,600
owner-associates.Despite being in an environment that has not favored domestic textile producers,
National is fortunate to be in a position to expand its core business, said Jim Chestnutt,
president and CEO, National. This move will emphasize our commitment to U.S.-based manufacturing
and North American/Caribbean markets. We will continue to support our customers with the highest
quality products and service, to assure their success in difficult markets.
January 2002

Unifi Completes Refinancing, Enters Into New FacilityUnifi Inc., Greensboro, N.C., has completed
refinancing of its existing credit facilities and has entered into a new $150-million facility with
Bank of America N.A.Unifi has used the facility to refinance its existing $150-million revolving
credit facility and a $100-million accounts receivable securitization, as well as to finance
working capital and investment needs.From December 31, 2000, to the date of the refinancing, we
have reduced our borrowings by approximately $155 million, said Billy Moore, executive vice
president and CFO. We will remain focused on strengthening our balance sheet by maximizing cash
flows generated from sales growth, reducing operating costs, controlling capital expenditures and
lowering working capital levels.
January 2002