Home / Knowledge / News / Apparel/Garments / Gildan acquires Shahriyar Fabric in Bangladesh
Gildan acquires Shahriyar Fabric in Bangladesh
31
Mar '10
Gildan Activewear Inc. announced that it had completed the acquisition of Shahriyar Fabric Industries Limited for a total purchase price of approximately U.S. $15 million, including the assumption of all of Shahriyar's indebtedness.

Shahriyar owns and operates a vertically-integrated knitting, dying, finishing, cutting and sewing facility for the manufacture of high-quality ring-spun T-shirts near Dhaka, Bangladesh, with annual T-shirt production capacity of 2.2 million dozens.

As a first phase of further expansion, Gildan plans to increase the facility's annual production capacity to 3.5 million dozens, to support the Company's strategy to grow its international business in Asia and Europe. Gildan's previously announced textile expansion plans in its Central American and the Caribbean Basin manufacturing hubs remain unchanged, including the construction of a third state-of-the-art textile manufacturing facility in Honduras (Rio Nance V) to support the Company's projected future sales growth in the North American screenprint and mass retail markets. Gildan expects that its acquisition of Shahriyar will generate a return on investment in excess of Gildan's risk-adjusted cost of capital.

The acquisition of Shahriyar is the end-result of substantial analysis carried out by Gildan to identify a strategic location to begin the development over time of a potential major vertically-integrated manufacturing hub in Asia, with an infrastructure and geographical location to position Gildan as a low-cost, high-quality producer to serve its target markets. Gildan intends to utilize its operating expertise and established manufacturing processes to further enhance the operating efficiency of the Shahriyar facility. In addition, Gildan is committed to ensure that its vertically-integrated manufacturing operations in Bangladesh are operated in full compliance with the Code of Conduct for social responsibility and leading practices for sustainability which have been implemented throughout its existing operations.

Gildan Activewear Inc


Must ReadView All

Maharashtra govt to help textile units set up solar plants

Textiles | On 21st May 2018

Maharashtra govt to help textile units set up solar plants

The state government of Maharashtra has formed a panel to help set up ...

Equate posts best Q12018 results since inception

Textiles | On 21st May 2018

Equate posts best Q12018 results since inception

Equate Group's first quarter results for 2018 are the best since its...

Over 60% retailers already have IoT platforms: IDC

Apparel/Garments | On 21st May 2018

Over 60% retailers already have IoT platforms: IDC

Retail organisations are adopting IoT platforms and more than 60 per...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search