GST Reaches Agreement with Senior Lenders on Restructuring Plan; Files Plan of Reorganization

GREENSBORO, North Carolina -

Global Safety Textiles LLC (”GST”) today announced that it has reached an agreement with a majority of its senior lenders to successfully restructure the Company’s obligations and has filed a Plan of Reorganization with the Bankruptcy Court. Under the Plan of Reorganization, the senior lenders would receive 100% of the equity interest and long-term debt in the reorganized GST Group.

GST Receives Proposal from WL Ross & Co.

GREENSBORO, North Carolina -

Global Safety Textiles LLC (”GST”) today announced that it had received a proposal from funds managed by WL Ross & Co. LLC (”WLR”) to invest US$55 million in a newly formed entity that would acquire the assets of GST and its subsidiaries. The new GST would have one of the strongest, well capitalized balance sheets in the automotive industry with a limited amount of long-term debt. After the transaction, the new GST will be well positioned to continue to expand its geographic footprint which today spans Europe, the Americas and China.

The REPREVE(R) Recycled Fiber Family Just Keeps Growing

GREENSBORO, North Carolina - REPREVE now available with 100% Post-Consumer PET Bottles

Unifi, Inc. (NYSE: UFI) continues to grow its family of REPREVE recycled products with the introduction of a new fiber made from 100% post-consumer PET bottles. The new addition offers a 100% post-consumer option to the brand’s well known 100% hybrid blend, which combines pre-consumer and post-consumer content.