Unifi Inc., one of the world’s leading innovators in synthetic and recycled yarns, is all set to acquire the dyed yarn business and assets of National Spinning Co. Inc.
The acquisition transaction, which is likely to be completed by May 2018 subjects, will help Unifi strengthen its position as a leading producer of dyed staple and filament yarn in the region.
Once the deal is finalised, Unifi is likely to shift the dyed yarn business from National Spinning’s facility in Burlington, North Carolina to its state-of-the-art dye house in Reidsville. Unifi is also considering to make the company operational on all seven days in order to make it more responsive to customer needs and deliver quickly.
Post-acquisition, Unifi will have acrylic and wool products to its dyed yarn portfolio.
The expanded dyed yarn portfolio will help fortify its relationship with its customers and get opportunities to fetch new customers as the company becomes an even greater solutions provider.
“The acquisition will also support Unifi to position itself for growth in key market segments such as sweaters, hosiery and apparel,” stated Tom Caudle, President and COO of Unifi.
Unifi has decided to employ important technical and operations personnel of National Spinning sales to make the acquisition a hassle-free process. In addition to these, the skilled workforce of National Spinning will also be offered job opportunity with Unifi.
The National Spinning is also hopeful that this acquisition will be beneficial for both its employees and customers.