Unifi, the maker of the recycled fiber Repreve, announced plans to expand its texturing capacity in the United States and Central America next year in order to meet the growing demand for synthetic materials in the Central America Free Trade Agreement (CAFTA) region.
The company posted its first quarter 2015 results Wednesday and attributed its 3.3% increase in net sales totaling $174.2 million to its nylon and international business, along with improvements to its polyester segment.
Bill Jasper, chairman and CEO of Unifi, said, “Based on the success of our domestic business and the expansion of our business within the CAFTA region, the company anticipates utilizing our cash from operations and additional borrowing capacity to fund growth related initiatives in fiscal year 2015.”
He added, “We are planning to increase texturing capacity in the U.S. and Central America to better serve the growing demand for synthetic yarns in the CAFTA region and to support our mix enrichment strategies. Because of the continued success and expected growth of Repreve we will also continue exploring backward integration opportunities into bottle washing.”
And expect to see more Repreve in the market. Unifi president and chief operation officer Roger Berrier said the company plans to continue to drive awareness and demand for Repreve through highly visibility partnerships, like its program with the Detroit Lions, the University of North Carolina at Chapel Hill and Marvel Universe Live!. He added, “Our marketing programs have attracted the attention of many brands and retailers, and have led to the development and adoption of new programs featuring Repreve and our other value-added products.”