CANADA: Gildan Activewear Buys Yarn-Spinning Plant
Gildan Activewear has bought Cavalier Specialty Yarn, an Ontario-based yarn spinning plant, for $4.4m the company announced yesterday. The plant, which is located around 50 miles from Montreal, is the largest spinning facility in Canada and employs approximately 170 workers. The company said that the plant would provide around one-third of Gildan's yarn requirements. It intends to further increase the capacity and cost efficiency of the facility over the next 24 months at an additional capacity cost to Gildan's earnings after the capital expenditure plan for the facility has been completed.
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