USA: Galey & Lord Announces Denim Joint Venture In Mexico
Arthur C Wiener, chairman & CEO of Galey & Lord Inc (NYSE: GNL) announced today that the company had signed a contract to form a 50/50 joint venture with Grupo Dioral in Mexico (a corporation owned by the Helfon family) for the production of denim fabric. The new company, Swift Denim-Hidalgo, will purchase the manufacturing facilities of Grupo Textil Hidalgo.
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