MEXICO: Galey & Lord Sews Up Denim Production Venture
Arthur C Wiener, chairman & CEO of Galey & Lord, Inc (NYSE: GNL) announced today that the company's Mexican joint venture, Swift Denim-Hidalgo, completed its purchase of the denim manufacturing facilities of Grupo Textil Hidalgo.Mr Wiener said: "This joint venture is a two year old, fully operational, state of the art denim facility. This new company enables Swift to market and manufacture denim on the same cost basis as other American denim manufacturers who have migrated some of their production to Mexico."Swift Denim is a global resource serving the Americas with manufacturing facilities in the United States, Canada, and Mexico. The company also has manufacturing facilities in Tunisia serving Europe, as well as the Philippines serving the Far East.Swift Denim Hidalgo is a joint venture between Galey & Lord Inc and Grupo Dioral, a corporation owned by the Helfon family.Galey & Lord is a global manufacturer of textiles for sportswear, including cotton casuals, denim and corduroy, as well as a major international manufacturer of workwear fabrics. In order to offer sportswear customers a complete package of fabrics and garments from one source, the company provides garment manufacturing from its owned and operated garment facilities. The company is also a manufacturer of dyed and printed fabrics for use in home fashions.
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