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Unifi mulls sales of UNIFI-SANS shares
Textiles
Unifi mulls sales of UNIFI-SANS shares
23 Feb '07
1 min read
Unifi Inc is planning to sell shares in nylon-manufacturing joint venture by third quarter of 2008.
South Africa based SANS Fibers and Unifi have entered into equal joint venture known as UNIFI-SANS Technical Fibers LLC.
The right to sell joint-venture was procured by Unifi as per joint-venture agreement after providing at least one year's notice period.
As per agreement, Unifi can sell plant at US $3 million and joint venture as per fair market value.
Company plans to start negotiations on sales price in third quarter of fiscal 2007.
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