May 1 , 2019 – Gildan Activewear recently announced a land purchase in Bangladesh for approximately $45 million as part of major South-east Asian capacity expansion initiative to support international growth. The completed  purchase of a sizeable land parcel in Bangladesh is part of Gildan’s new capacity expansion initiative to develop large-scale vertically-integrated manufacturing in South-east Asia to support expected sales growth.

Gildan’s plans consist of the development of 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 $500 million in sales. Over the next twenty-four months, the Company plans to construct and develop the first textile facility at the complex. Initial production at the facility is expected to start in the latter part of 2021. The Company believes the build out of a large-scale manufacturing hub in South-east Asia will significantly enhance its positioning to service international markets and support other key sales growth drivers.