Home / Knowledge / News / Apparel/Garments / Xidelang eyes apparel manufacturing
Xidelang eyes apparel manufacturing
30
Jul '15
Xidelang Holdings (XDL), China-based manufacturer of sports and leisure wear, has signed an agreement to acquire the entire existing business and undertakings of Jinjiang Yangsen Garments Company, including all of its assets and certain agreed liabilities, the company announced on its website.
 
As per the agreement, XDL proposes to satisfy the purchase consideration via cash and/ or issuance and allotment of new ordinary shares of $0.03 each in XDL shares at the issue price of Malaysian ringgit 0.22 per share, subject to such amount of cash and/or new shares to be negotiated and agreed upon by the parties prior to the execution of the Definitive Agreement, upon completion of the Due Diligence Exercise.
 
Post-acquisition XDL will expand its business to include manufacturing of apparel. As such, the contribution from the manufacturing of apparel is likely to exceed 25 per cent or more of the net profits of XDL in the future.
 
Presently, XDL is principally involved in the design, manufacturing and marketing of sports and leisure shoes as well as design and marketing of sports and leisure apparels. The proposed acquisition will enable XDL to vertically integrate its existing operation and further strengthen and complement its existing designing and marketing of apparel, leading to increase in sales of its apparels division.
 
“The proposed expansion would also provide another source of revenue and income to the XDL Group and is part of XDL Group's long term strategy of diversifying into an area with positive growth prospects,” according to the agreement.
 
Based in China's Fujian province, Yangsen is principally involved in the design, manufacturing, distribution and marketing of apparel on an original design manufacturing basis for various internationally-recognised brands such as Primark, Mizuno, Joma, Killtec, NewYorker and Admiral, amongst others. The manufactured apparels are distributed to international markets including the US, Europe, Turkey and Brazil. Yangsen is both ISO 9000 and ISO 14000 certified. (RKS)
 

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X