Milliken buys Gildan Activewear spinning site
A yarn-spinning facility previously owned by Montreal-based producer Gildan Activewear in Mayodan, North Carolina, has passed into the hands of US manufacturer Milliken, itself headquartered in South Carolina.
Machinery, equipment and inventory all formed part of the sale, according to local media. In addition, all 138 full-time plant employees have reportedly been offered contracts with the buyer.
Gildan, which currently owns nine other US sites of a similar nature, said it has “no intention” of offloading any further spinning facilities. It added that the decision to sell the Mayodan plant was part of plans to consolidate and modernise its yarn operations in the country, in support of existing capacity expansion endeavours.
Earlier this month, the Canadian company revealed that it had achieved record sales of $896 million over the second quarter ended July 3, representing year-on-year growth of 20%.
