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.
April/May/June 2010