;
Home / Knowledge / News / Apparel/Garments / Jerash company is first Arab firm to get listed on NASDAQ
Jerash company is first Arab firm to get listed on NASDAQ
12
May '18
Jerash company is first Arab firm to get listed on NASDAQ
Jerash Garments and Fashions Manufacturing Company (JGFMC) located in Sahab Development Zone in Jordan has become the first Arab company to be listed on the NASDAQ stock exchange in New York. It was also the first Jordanian company to receive authorisation for exporting to the EU as per relaxed rules under a deal between the country and the Union in 2017.

Choi Lin Hung, chairperson of JGFMC said the company’s NASDAQ listing will help it grow and increase its investment in Jordan. He added that security and stability in the country and incentives offered encouraged the expansion of the company.

The company will also open a new branch in Hasa as a deal has been finalised to export garments to The Netherlands, said the company’s executive manager Oryana Awaysheh.

Jordan’s king Abdullah had visited the company on Labour Day and met its board members and top executives. He said at the meeting that adequate support will be provided to guest investors and stressed on the importance of having and investment-friendly climate in the country. King Abdullah toured the JGFMC factory and met the workers, according to a Jordanian newspaper.

The garment factory manufactures products for some big brands like Walmart, Sears, Costco, Hanes, Columbia, Timberland, The North Face, Lee, Wrangler, Tommy Hilfiger, Speedo and Calvin Klein. It has factories in three locations and provides employment to over 2,800 people including immigrants from nations like India, Sri Lanka, Bangladesh, China, Nepal, Myanmar and Syria.

The company can produce up to 500,000 pieces per month. It exported garments worth $62 million to the US and $300,000 to the EU in 2017.

Samir Murad, the labour minister of Jordan said that JGFMC is one of the most successful Chinese investments in Jordan and is offering employment to a lot of Jordanians. (KD)

Fibre2Fashion News Desk – India


Must ReadView All

British PM's Brexit divorce deal defeated in parliament

Textiles | On 16th Jan 2019

British PM's Brexit divorce deal defeated in parliament

British Prime Minister Theresa May's Brexit divorce deal was defeated ...

Garment industry in Laos continues to face challenges

Apparel/Garments | On 16th Jan 2019

Garment industry in Laos continues to face challenges

Apparel firms in Laos are facing several problems ranging from...

Courtesy: Indochino

Apparel/Garments | On 16th Jan 2019

Indochino to open 20 new showrooms in North America

Indochino, a leader in custom and made to measure apparel...

Interviews View All

Vidhyaa Shankar. S, A Ganapathi Chettiar

Vidhyaa Shankar. S
A Ganapathi Chettiar

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

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Kamlesh Vaghela, RK Textiles

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Harmeet Singh,

Harmeet Singh

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

Sandip Bhojani, Manthan Patel,

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Siddhachakra Weaving (Badiya Fashion),

Siddhachakra Weaving (Badiya Fashion)

Ahmedabad-based Siddhachakra Weaving Pvt Ltd was established in 2011 under ...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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


January 2019

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

news category


Related Categories:

Advanced Search