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Gildan, Frontier Form Venture

Montreal-based Gildan Activewear Inc. and Frontier Spinning Mills Inc., Sanford, N.C., have formed a 50/50 joint venture company to buy the assets of a yarn spinning facility located in Cedartown, Ga. The purchase price for the Cedartown plant, which houses state-of-the-art technology, was approximately $12.5 million.

It is anticipated that all yarn produced at Cedartown will be consumed by Gildan's integrated fabric manufacturing operations.

February 2004