Gildan Invests in Spinning to Support Growth

Canada's Gildan Activewear Inc. has completed the acquisition of the remaining 50 percent of CanAm Yarns LLC, its 50 percent-owned yarn spinning joint venture, and is planning to modernize and expand the two CanAm yarn-spinning facilities. It is also planning a new yarn-spinning facility in the U.S.

The strategic rationale for the company's investment in vertically integrated yarn spinning is to support its projected sales growth and to continue to pursue its business model of investing in global low cost manufacturing technology and in product technology which will provide consistent superior product quality.