Unifi ends joint venture negotiations in Guatemala

18 Jul '18

1 min read

Courtesy: Unifi/Repreve

Unifi, Inc, a global textile solutions provider, has 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 and previously announced in July 2017.

However, the company will continue to focus on expanding in Central America. “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 chief operating officer of Unifi, Inc. “We will continue to seek future strategic growth opportunities across the Americas that leverage our assets and deliver shareholder value.”

As one of the world’s leading innovators in manufacturing synthetic and recycled performance fibres, Unifi’s proprietary technologies offer increased performance, comfort and style advantages, enabling customers to develop products that perform, look and feel better.

Unifi collaborates with many of the world’s most influential brands in the sports apparel, fashion, home, automotive and other industries. (RKS)

Fibre2Fashion News Desk – India

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