Brandix named Exporter of the Year
Hosiery/Seamless
Tefron to partner Brandix in new seamless plant
Israeli seamless lingerie and sportswear producer Tefron Ltd is reported to be expanding its business in Asia announcing the signing of a memorandum of understanding with Brandix of Sri Lanka to set up a joint company in the seamless market, with an estimated turnover of $2 billion per year.
16th December 2013
Knitting Industry
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Israel
In a news post yesterday Tefron CEO Gil Shimon apparently told the Globes news website (www.globles.co.il): “This is an excellent tie-up between industrial capacity and technological leadership.”
According to the report, Tefron did not disclose financial details of the investment or the revenue potential of the company to be set up, but it does say that the plant will have 50 knitting machines. The type or brand of knitting machines was not disclosed.
The report continued: “Tefron says that Brandix is the largest exporter of clothing in Sri Lanka, manufacturing for leading international brands such as Gap and Marks & Spencer. The final agreement will be signed within three months, and will be subject to approval by Tefron's financing banks.”
Tefron is traded on the Tel Aviv Stock Exchange at a market cap of NIS 39 million.
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