Pacific Textiles is a leading manufacturer of customized knitted fabrics with a focus on complex, value-added fabrics. The Company collaborates closely with apparel brand owners to design fabrics that meet customized order particulars. Its finished fabrics comprise more than 3,000 designs and specifications which the Company sells to garment manufacturers worldwide to produce garments for premium apparel brand owners.
These fabrics are used in a broad range of garments, including men's, women's and children's clothing, sportswear, swimwear and inner-wear. Headquartered in Hong Kong, the principal manufacturing facility of Pacific Textiles is a modern, integrated knitting, dyeing and printing facility in Panyu, China.
The Company offers warp and weft knitting along with printing services. In 2004, Pacific Textiles acquired a controlling interest in a knitting and dyeing facility in Avissawella, Sri Lanka and has since expanded its annual production capacity.
This is part of the Company's strategy to expand its production volume and the geographic scope of our operations.Mr. Wan Wai Loi, Executive Director (Chairman of the Board)said, “Leveraging our growth prospects through multiple channels as well as an efficient production model, we are seeking to strengthen our position as a leading manufacturer of customized knitted fabrics.
These customized and high value-added fabrics enable us to maintain higher margins.” Pacific Textiles intends to use the net proceeds from the Global Offering to fund capital expenditures for the expansion and upgrade of the facilities and operations, and to repay an existing syndicated loan and other bank loans which were used for working capital and other operational purposes.
“Pacific Textiles' primary location in China positions us to capitalize on the continuing migration of the garment industry to Asia. We have planned for significant capital investments for the expansion of our principal production facility located in Panyu to maintain our competitive position and to take advantage of China's strong foothold in the knitted fabric industry. We have also planned to expand our Sri Lanka facility to increase its production output,” Mr Wan added.
To further extend the high quality product platform, Pacific Textiles also seeks to partner with and invest in businesses that manufacture different types of fabrics. These partnerships represent opportunities for the Company's future expansion.
Pacific Textiles Holdings Limited
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
