Unifi sells Madison facility for $45M, reduces debt by $43.3M, expects >$20M annual cost savings

UNIFI INC

Sale of Madison, NC manufacturing facility closed May 20 for $45M; net proceeds used to reduce debt.
Term loan reduced by $25M to $67M; revolving loan reduced by $18.3M to $5.6M; total debt down ~$43.3M.
Company expects over $20M in annualized operating cost savings after transition and restructuring.
Potential deferred compensation up to $8M (2 yr) or $5M (3 yr) based on energy conditions; extra $5M possible (4 yr).

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