Unifi Ends Joint Venture Negotiations In Guatemala

GREENSBORO, N.C. — July 16, 2018 — Unifi Inc. today announced that a definitive agreement could not be reached with the owners of Complast S.A. — operating under the brand name EuroPET — and Technologia Textil Avanzada — operating under the brand name EuroFIL — to form a joint venture in Guatemala as had been contemplated by a letter of intent previously announced in July 2017.

“Our commitment to the Central American region remains unchanged and we continue to see growth opportunities for REPREVE® and our branded portfolio both in the region and across the globe,” said Tom Caudle, president and COO, Unifi.  “We will continue to seek future strategic growth opportunities across the Americas that leverage our assets and deliver shareholder value.”

Posted July 16, 2018

Source: Unifi Inc.