Business news : Gildan Activewear Plans New $200M US Yarn Plants

Gildan Activewear Inc. announced  it is evaluating potential sites in the Southern U.S. for the construction of two additional yarn-spinning facilities, to support its projected sales growth and further reinforce its position as a global low-cost manufacturer.

The company currently expects to invest in excess of U.S. $200 million during fiscal 2014 and 2015 for the construction and ramp up of these new facilities. This investment will be made in addition to the investments announced on November 29, 2012 for a new ring-spun yarn manufacturing facility in Salisbury, N.C., and the refurbishment and modernization of the company's open-end facilities in Clarkton, N.C. and Cedartown, GA.

The company's total investment in U.S. yarn-spinning facilities, including the two new facilities, is expected to create over 700 jobs and further solidify the important domestic U.S. component of its vertically-integrated manufacturing.

The company will be in a position to provide further details of its capital investment program for fiscal 2014, including its plans for further expansion of its vertical textile manufacturing operations, when it releases its results for the fourth quarter of fiscal 2013.

Gildan is a leading supplier of quality branded basic family apparel, including T-shirts, fleece, sport shirts, socks and underwear. The company sells its products under a diversified portfolio of company-owned brands, including the Gildan, Gold Toe and Anvil brands and brand extensions, as well as under license agreements for the Under Armour and New Balance brands.

By press release through sportsonesource

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