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GILDAN ACTIVEWEAR INC.: Gildan Confirms That Operations Unaffected by Current Honduran Political Situation

  //house-home.news-articles.net/content/2009/06/2 .. ted-by-current-honduran-political-situation.html
  Published in House and Home on Monday, June 29th 2009 at 8:19 GMT, Last Modified on 2009-06-29 08:19:31 by Market Wire

MONTREAL, QUEBEC--(Marketwire - June 29, 2009) - Gildan Activewear Inc. (TSX:GIL)(NYSE:GIL) today confirmed that the current political situation in Honduras has had no impact on its operations or employees in Honduras.

The Company's sock manufacturing facilities in Honduras are continuing to operate normally at full capacity. The Company is currently taking two weeks of market-related production downtime in its textile and activewear sewing facilities, which were previously scheduled prior to the development of the current political situation, in line with its previously stated objective to balance inventory levels with anticipated continuing weak market conditions for activewear in the wholesale distributor channel. Maintenance and administrative activities at Gildan's operations in Honduras are not affected.

Profile

Gildan is a vertically-integrated marketer and manufacturer of quality branded basic apparel. The Company is the leading supplier of activewear for the screenprint channel in the U.S. and Canada. It is also a leading supplier to this market in Europe, and is establishing a growing presence in Mexico and the Asia-Pacific region. The Company sells T-shirts, sport shirts and fleece in large quantities to wholesale distributors as undecorated "blanks", which are subsequently decorated by screenprinters with designs and logos. Consumers ultimately purchase the Company's products, with the Gildan label, in venues such as sports, entertainment and corporate events, and travel and tourism destinations. The Company's products are also utilized for work uniforms and other end-uses to convey individual, group and team identity. The Company is also a leading supplier of private label and Gildan branded socks primarily sold to mass-market retailers. In addition, Gildan has an objective to become a significant supplier of men's and boys' underwear and undecorated activewear products to mass-market retailers in North America.