Montreal - Gildan Activewear is to construct a new plant in Bangladesh as it looks to expand its global textile and sewing operations across South Asia.
Reporting a drop in first quarter net earnings to US$22.7 million, compared with $67.9 million in the prior year quarter, Gildan said it had purchased the land in Bangladesh with a view to developing a large multi-plant manufacturing complex which is currently expected to include two large textile facilities and related sewing operations. Once fully operational, this complex is expected to provide capacity to service over US$500 million in sales.
