By Stephen Nakrosis
Unifi said it will transition yarn production at its facility in Madison, N.C. and plans to sell the property later this calendar year.
The company said production activities currently taking place at the facility will be consolidated into facilities in North and Central America. Unifi said certain equipment will be relocated to meet current and growing market needs.
The company said the decision will enhance operating efficiency, reduce fixed costs, and strengthen its balance sheet.
Existing employees will be offered opportunities at the company's other facilities in the state, Unifi said. Proceeds from the property sale will be prioritized toward paying down existing debt.
Unifi makes and sells synthetic and recycled products made from polyesters and nylon.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
February 03, 2025 17:02 ET (22:02 GMT)
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