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Apparel firm plans expansion
06 Oct '06
1 min read
Ares Sportswear Ltd, an 11 year-old sports apparel manufacturer intends to buy another building to cater its projected growth.
The deal may be closed by October, 10 and space of 15, 000 square-foot warehouse will be added to its already existing headquarters.
The acquisition will total Ares' space to 43,000 square feet. New space will be used for customer service, buying, art department and for the storage purpose.
Ares is in the business of sportswear that includes uniforms and warm-ups with screen-print and embroidery designs. It is eyeing school athlete market right now.
Company's growth both in terms of revenue and manpower necessitated the need to add to the space it already had. It had 65 workers and earned revenue of $5 million in 2005.
The deal may be closed by October, 10 and space of 15, 000 square-foot warehouse will be added to its already existing headquarters.
The acquisition will total Ares' space to 43,000 square feet. New space will be used for customer service, buying, art department and for the storage purpose.
Ares is in the business of sportswear that includes uniforms and warm-ups with screen-print and embroidery designs. It is eyeing school athlete market right now.
Company's growth both in terms of revenue and manpower necessitated the need to add to the space it already had. It had 65 workers and earned revenue of $5 million in 2005.
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