GILDAN IN BANGLADESH: Gildan Activewear Inc. has chosen Bangladesh as its Asian manufacturing base with the acquisition of a T-shirt plant near Dhaka for $15 million. With the acquisition, Gildan will expand its annual capacity of 2.2 million dozen T-shirts to 3.5 million dozen to serve growing markets in Asia and Europe. Glenn Chamandy, Gildan’s chief executive officer, told the company’s annual shareholders’ meeting in Montreal in February that the firm planned to build a low-cost, high-quality manufacturing base in Asia, but excluded China as a potential location. The company says it will continue to grow manufacturing operations in Central America and the Caribbean, which mainly serve the North American market.

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