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Knitting / Apparel

Gildan Expands Offshore Operations

Montreal-based Gildan Activewear Inc. is expanding its offshore manufacturing operations with the recent purchase in the Dominican Republic of 18 million square feet of land, on which it plans to erect a knitting, bleaching and cutting facility. The state-of-the-art operation, which will cost $60 million, will be completed by the end of this year and is expected to reach full production capacity within the next few years. The company anticipates future expansion on the site.

Fabric produced at the site will be sewn both in the Dominican Republic and in Haiti, where a Gildan integrated sewing plant is located.

Gildan also plans this year to invest $15 million in the expansion of its manufacturing facility in Honduras and the establishment of a sewing plant in Nicaragua.

With this growth, Gildan hopes to increase its annual sales by more than 50 percent over the next five years.

March 2004