By  on February 3, 2005

MONTREAL — Gildan Activewear Inc. will continue to expand its low-cost production facilities in the Caribbean as part of its objective to more than double sales to $1 billion by 2009, up from $533.3 million in fiscal 2004.

“We have $425 million in capital expenditures planned between now and 2009,” Glenn Chamandy, president and chief executive officer, told shareholders at the company’s annual meeting on Wednesday. “We also plan a 15 to 20 percent increase in earnings per share over the next five years.”

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