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Knitting / Apparel

Gildan Acquires Shahriyar

Gildan Activewear Inc., Montreal, has acquired Shahriyar Fabric Industries Ltd., Bangladesh, for approximately US$15 million. Gildan plans to expand Shahriyar's vertically integrated knitting, dyeing, finishing, cutting and sewing plant - which produces annually some 2.2 million dozen T-shirts from ring-spun yarn - and increase annual production capacity to 3.5 million dozen T-shirts.

May/June 2010