Category: General

(OTC: EGLY) Reports Letter of Intent to Acquire Garment Company
TMCnet

(CybeRelease, May 4, 2014) – Lake Harmony, PA – Ever-Glory International Group (OTC BB:EGLY), an international manufacturer of apparel, announced that the Company has executed a Letter of Intent to acquire the majority or all outstanding shares of Nanjing Catch-Luck Garment Company Limited. Closing of the transaction is subject to certain due diligence and customary closing conditions and is expected to take place within 60 days. Moreover, the acquisition will be accretive to earnings.

The basis for determining the market valuation for the transaction will be based on the comparative market value of the business, valued at more than US$ 4,000,000.00 by Savills, a reputable and internationally recognized Valuation and Consultancy Firm, using the discounted cash flow approach. As a result of the acquisition, Nanjing Catch-Luck Garment Company Limited will become a majority or wholly owned subsidiary of Ever-Glory. Read more about (OTC: EGLY) Reports Letter of Intent to Acquire Garment Company …

Vietnam garment producer to invest 1 bln USD to expand production
People’s Daily Online, China

Vietnam’s biggest garment and textile producer and exporter will invest over one billion U.S. dollars in developing its production, distribution system and material growing areas from 2014 to 2014, local newspaper Vietnam News reported Thursday.

The Vietnam National Textile and Garment Group (Vinatex) will pour the investment of 16 trillion Vietnamese dong (VND) into 24 key projects, mainly on developing feedstock, distribution system, fashion design and infrastructure. Read more about Vietnam garment producer to invest 1 bln USD to expand production …

Wisata Batik Bantul dari Pleret, Imogiri sampai Pandak
bantulbiz.com

Sebagai salah satu upaya pelestarian seni budaya batik dan kepedulian terhadap perkembangan batik khususnya Batik Bantulan, SMK N 3 Kasihan mengadakan Wisata Batik Bantulan dengan route Batik Arista (Pleret), Kelompok Pengrajin Batik Bima Sakti (Wukirsari, Imogiri), Kelompok Pengrajin Batik Bu Sri (Pandak), Museum Batik Joglo Cipto Wening (Imogiri), dan diakhiri ke batik Bu Topo dan Bu Dirjo Sugito (Pandak).
Kegiatan ini dilakukan pada hari Kamis (30/3) dan diikuti oleh 50 peserta sebagai bagian dari peringatan HUT ke-43 SMK N 3 Kasihan pada tanggal 5 April nanti, setelah sehari sebelumnya diadakan workshop batik. Read more about Wisata Batik Bantul dari Pleret, Imogiri sampai Pandak …

Garment machinery business claws back lost ground
The News – International, Pakistan
By Hina Mahgul Rind

KARACHI: In recent years the local garment industry hit upon hard times. Particularly in 2014, the industry witnessed a slump of considerable proportions. This was the year when many factories producing knitwears, towels, home textiles, jeans, etc., were closed down after they faced heavy losses and cut-throat competition in the global market.

While some units did close down, many others nevertheless chose to expand. So over the last five months, from December 2014 to April 2014, investment is taking place and machinery sales are on the up. We are witnessing some increase in our business as a result, said Asif Ali Rasheed, a top executive of Al-Murtaza Machinery. Read more about Garment machinery business claws back lost ground …

Labor protests mark May Day
Seattle Times

In Germany, unions took aim at corporate greed. In Bangladesh, garment-factory employees called for better working conditions. And in Turkey, police fired pepper spray and tear gas to disperse demonstrators denouncing the International Monetary Fund and the United States.

Hundreds of thousands of people around the world turned out for May Day, a traditional workers’ holiday around the world, with protests in Switzerland, Sweden, Turkey and Chile turning violent. Read more about Labor protests mark May Day …

Weir Golf Joins Second Skin Garment Co.
2/5/07 4:59
MikeWeir.com, Canada

TORONTO, ON – Second Skin Garment Co. is adding the most recognizable name in Canadian golf to its line-up as the Toronto-based apparel company solidifies its position as an industry leader across Canada.

In a bold strategic move, Second Skin Garment Co. is set to increase its market share with the addition of the popular Weir Golf Collection, as well as the up and coming Grace Lane line, worn by veteran Lorie Kane on the LPGA Tour. The move allows the company to enhance its stable of great Canadian brands that include: Second Skin outerwear, performance driven Hollas golf apparel, Ahead headwear, as well as Phenix ski clothing. Read more about Weir Golf Joins Second Skin Garment Co. …

Boycotts Paralyze Ports, Produce, Garment Districts
KTLA 5
By Jesus Sanchez, Times Staff Writer /May 1, 2014, 5:22 PM PDT

The normally bustling downtown Los Angeles produce and garment districts were virtually shut down today, and truck traffic at the ports was down sharply after many employees protesting the nation’s immigration policy’s did not show up for work.

The dearth of activity in the produce and garment districts, both heavily dependent on immigrant labor, was so far the most dramatic sign of the impact of today’s organized immigration protests on local commerce. Only sporadic business closures and staffing shortages reported across the remainder of Southern California. Read more about Boycotts Paralyze Ports, Produce, Garment Districts …

Firms Brace for Rallies Today
Los Angeles Times, CA
Immigrant protests lead some companies to shut early and others not to open for business at all.
By Lisa Girion and Molly Selvin, Times Staff Writers/May 1, 2014

From Los Angeles garment factories to Sonoma County vineyards, California businesses spent the weekend preparing for today’s marches and boycotts aimed at demonstrating immigrants’ economic contributions.

Restaurants and other retailers near a downtown Los Angeles march route and in heavily immigrant neighborhoods throughout the city posted signs saying they would be closed today.Companies that rely on immigrant workers made plans to get through the day with skeleton crews or to shut down altogether. Hospitals prepared to call in extra employees in the event that an anticipated influx of patients materializes at emergency rooms.

Many businesses were preparing for a day without deliveries. Trucking companies were girding for the possibility that warehouse workers who unload and sort the deliveries would respond to calls for a widespread sickout. Read more about Firms Brace for Rallies Today …

May Day demonstrations quelled by massive police presence in Cambodia capital
Malaysia Star, Malaysia

PHNOM PENH (AP) – A leading trade union leader was arrested Monday as thousands of police brought the capital to a virtual standstill during a government clampdown on unauthorized May Day demonstrations, an opposition leader said.

Chea Mony, leader of the Free Trade Union, was arrested by police and detained for two hours on grounds that he was organizing unauthorized demonstrations, said Sam Rainsy, leader of the opposition Read more about May Day demonstrations quelled by massive police presence in Cambodia capital …

From destitute to garment worker
The Daily Star, Bangladesh

Ahsania Mission, European Union launch skill development training
Star National Desk

‘I became a destitute when my father died 12 years ago,’ said 25-year-old Sapna of Rupnagar area in Mirpur, Dhaka.
As Sapna was devastated, she was compelled to become a domestic help at a house. Read more about From destitute to garment worker …