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American Apparel takes over assets of Wellstone
25
Feb '09
Greenville based Wellstone Mills LLC, which is a manufacturer of yarns and apparels, has signed a deal to transfer its assets to military apparel uniform supplier, American Apparel. It will also conduct research and develop yarns and fabric for military use.

Wellstone is a supplier of uniforms to the US postal department as well as the four wings of the US armed forces. This deal will transform American Apparel into the largest supplier of military clothing in the US.

Subject to government approval, the deal is expected to close within 90 days and is expected to add US $40 million to the turnover of American Apparel. This deal is also expected to save hundreds of jobs at Wellstone Mills

Fibre2fashion News Desk - India


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