Montreal-based branded basic apparel manufacturer Gildan Activewear Inc. has acquired
Bangladesh-based Shahriyar Fabric Industries Ltd. for approximately US$15 million, including
assumption of Shahriyar’s existing indebtedness.
Shahriyar operates a vertically integrated knitting, dyeing, finishing, cutting and sewing
facility that manufactures annually approximately 2.2 million dozen T-shirts from ring-spun yarn.
Gildan plans to expand the plant and increase annual production capacity to 3.5 million dozen as
part of its strategy to expand its business in Asia and Europe.