Gildan Activewear plans manufacturing expansion in 2016
Sportswear maker Gildan Activewear plans to significantly expand its production capacity this year, which will include a new yarn spinning facility in North Carolina, growth in its Rio Nance manufacturing complex in Honduras and increases at a facility in Bangladesh.
The Canadian group reported sales revenues for the year to January 3, 2016, of $2.6 billion, up 11.7% from calendar 2014.
Chief financial officer Rhodri Harries said: “We feel good about our prospects and the plans we are putting in place to position the company to drive long-term growth and strong shareholder returns. While we are dealing with near term headwinds, our growth drivers remain intact.
"In Printwear, we are continuing to execute on our strategy to gain further market penetration in North America and international markets.
"In Branded Apparel, we're increasing our presence with new and existing retailers by leveraging our manufacturing cost advantages, and enhancing our value proposition to customers and consumers.”
