Gildan Confirms That Operations Unaffected by Current Honduran Political Situation
June 29 2009 - 11:05AM
Marketwired
Gildan Activewear Inc. (TSX: GIL)(NYSE: GIL) today confirmed that
the current political situation in Honduras has had no impact on
its operations or employees in Honduras.
The Company's sock manufacturing facilities in Honduras are
continuing to operate normally at full capacity. The Company is
currently taking two weeks of market-related production downtime in
its textile and activewear sewing facilities, which were previously
scheduled prior to the development of the current political
situation, in line with its previously stated objective to balance
inventory levels with anticipated continuing weak market conditions
for activewear in the wholesale distributor channel. Maintenance
and administrative activities at Gildan's operations in Honduras
are not affected.
Profile
Gildan is a vertically-integrated marketer and manufacturer of
quality branded basic apparel. The Company is the leading supplier
of activewear for the screenprint channel in the U.S. and Canada.
It is also a leading supplier to this market in Europe, and is
establishing a growing presence in Mexico and the Asia-Pacific
region. The Company sells T-shirts, sport shirts and fleece in
large quantities to wholesale distributors as undecorated "blanks",
which are subsequently decorated by screenprinters with designs and
logos. Consumers ultimately purchase the Company's products, with
the Gildan label, in venues such as sports, entertainment and
corporate events, and travel and tourism destinations. The
Company's products are also utilized for work uniforms and other
end-uses to convey individual, group and team identity. The Company
is also a leading supplier of private label and Gildan branded
socks primarily sold to mass-market retailers. In addition, Gildan
has an objective to become a significant supplier of men's and
boys' underwear and undecorated activewear products to mass-market
retailers in North America.
Contacts: Gildan Activewear Inc. Laurence G. Sellyn, Executive
Vice-President, Chief Financial and Administrative Officer
514-343-8805 lsellyn@gildan.com Gildan Activewear Inc. Benoit
Leroux, Director, Corporate Development 514-343-8898
bleroux@gildan.com Gildan Activewear Inc. Sophie Argiriou,
Director, Investor Communications 514-343-8815
sargiriou@gildan.com
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