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Unifi, Inc. a speciality textured yarn supplier has come to an agreement with the owners of Complast S.A. and Technologia Textil Avanzada (TTA), by signing a non-binding letter of intent to form a joint venture in Guatemala. Both the companies in Guatemala are into recycling, spinning and texturing.
Under the terms of the deal, the joint venture will continue the recycling, spinning and texturing activities of Complast and TTA with Unifi owning 51% of the joint venture and the existing owners of Complast and TTA owning the remaining 49%.
