US: Gildan selects Rowan County for spinning plant
Apparel company Gildan Activewear is set to open a new ring-spinning plant in Salisbury, Rowan County, through its CanAm Yarns subsidiary, as it continues to expand its presence in the US.
The T-shirt and sock manufacturer said it will invest US$50m in the facility, which is expected to create 170 jobs over the next two years.
"This is a great project for Rowan County," said Senator Andrew Brock. "With North Carolina as a long-time leader in textiles, Gildan will easily find the skilled workforce they need."
The news comes after Gildan Activewear announced plans to modernise and expand its two CanAm yarn-spinning facilities in the US and revealed plans to build a new factory in the country.
The state Economic Investment Committee has also voted to provide CanAm with a Job Development Investment Grant (JDIG).
Under the terms of the JDIG, the company is eligible to receive a grant equal to 65% of the state personal income withholding taxes derived from the creation of new jobs for each of the first ten years of operations in which the company meets annual performance targets.
If CanAm meets the targets called for under the agreement and sustains them for ten years, the JDIG could yield $1.55m in benefits for the company, the North Carolina Governor's Office said.
Gildan employs 100 people at its yarn-spinning facility operated by CanAm in Bladen County and 294 people at one of distribution centres in Rockingham Country.
During the first quarter of fiscal 2013, Gildan Activewear completed its acquisition of the remaining 50% of CanAm Yarns, its yarn-spinning joint venture.
This report provides an update of business news in the following categories: acquisitions, divestments and mergers; company strategies; corporate social responsibility (CSR); financial results; intern...
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