CANADA: Gildan Activewear Buys Yarn-Spinning Plant
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.
"Following the company's planned equipment modernisation programme, the plant will be a state-of-the-art facility, in keeping with Gildan's commitment to be the low-cost producer at every level of our vertically integrated manufacturing operations," commented H. Greg Chamandy, chairman and CEO of Gildan Activewear.
"At the same time, we are achieving a high level of vertical integration into yarn manufacture without major capital expenditures."
Companies: Gildan Activewear Inc
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