Gildan moves apparel operations to Honduras and Nicaragua
Honduras and Nicaragua can expect to add direct and indirect jobs in the apparel sector, following a shift of production for the American Apparel brand, acquired for $88 million last January by Montreal-based Gildan Activewear Inc.
An integrated textile and apparel producer, Gildan has three sewing plants in Nicaragua, and a manufacturing hub in Honduras, with textile and sock production, garment dying, and sewing operations.
American Apparel, which had since its founding in 1989 made clothes exclusively in the United States, filed for bankruptcy in November of last year.
Gildan, which also operates in Dominincan Republic, Mexico and Bangladesh, last year had net earnings of $350 million on sales of $2.6 billion, both figures unchanged from 2015.
The company’s stock trades on the Toronto Exchange.