Shima Seiki
TechTextil North America

Free membership

Receive our weekly Newsletter
and set tailored daily news alerts.

Circular Knitting

Sri Lanka’s Hayleys acquires South Asia Textiles

The acquisition is part of a strategic plan to export higher value-added fabrics.

27th April 2021

Knitting Industry
 |  Colombo, Sri Lanka

Intimate Apparel, Sports/​Activewear

Hayleys Fabrics, a circular knitted fabrics unit of Sri Lanka’s Hayleys Group, has bought a 98.84% shareholding in South Asia Textiles Limited, a weft-knitted textiles manufacturer, for 3.953 billion rupees, Economynext reports.

Hayleys said it bought a 97.68% stake from publicly traded Ambeon Holdings Limited and another 1.16% from a minority shareholder. The company said the acquisition was part of a strategic plan to export higher value-added fabrics.

South Asia Textiles has a plant in Pagoda, Sri Lanka and can produce 800,000 kilograms of textiles per month. It makes knitted, dyed, finished, printed, brushed, suede, pre-shrunk and specialised performance based casual, lounge, sports, medical and intimate fabric.

The firm has said its products are used b Victoria Secret Pink, Next, Nike, Marks & Spencer, Tesco, PVH/Calvin Klein, Columbia Sportswear, Lidl, ASICS, George, Tommy Hilfiger, Levi’s, Helly Hansen, Hanes, Hugo Boss, Decathlon, and Adidas brands.

https://hayleysfabric.com/

Latest Reports

Business intelligence for the fibre, textiles and apparel industries: technologies, innovations, markets, investments, trade policy, sourcing, strategy...

Find out more