Jerash Holdings (US), Inc.
Under the Symbol:
Jerash Announces New Corporate Headquarters in Rochester, New York
Friday, January 11, 2019 7:30 AM
NEW YORK, NY / ACCESSWIRE / January 11, 2019 / Jerash Holdings (US), Inc. (NASDAQ: JRSH) (the "Company"), a producer of high quality textile goods for leading global brands, today announced that it has moved its corporate headquarters to Rochester, New York, selecting a location the Sibley Square development in the heart of the city. The company previously based its headquarters in New York City. The headquarters move is estimated to save more than $600,000 in annual taxes assessed due to the prior headquarters location in New York City.
In addition to its Rochester, New York headquarters, Jerash maintains offices in Hong Kong and manufacturing facilities located in a United States Qualifying Industrial Zone (QIZ) in Jordan, which provides for duty-free movement of industrial goods between Jordan and the US provided they meet certain manufacturing and content requirements. Additionally, Jerash is engaged in a number of socially responsible initiatives designed to ensure safe, rewarding employment practices of global textile workers and providing employment to Syrian refugees housed in United Nations camps in Jordan.
About Jerash Holdings (US), Inc.
Jerash Holdings (US), Inc. (NASDAQ: JRSH) is a manufacturer utilized by many well-known brands and retailers, such as Walmart, Costco, Sears, Hanes, Columbia, Land's End, VF Corporation (which owns brands such as The North Face, Nautica, Timberland, Wrangler, Lee, Jansport, etc.), and Philip-Van Heusen (which owns brands such as Calvin Klein, Tommy Hilfiger, IZOD, Speedo, etc.). Its production facilities are made up of three factory units and two warehouses and currently employ approximately 2,900 people. The total annual capacity at its facilities is approximately 6.5 million pieces. Additional information is available at http://www.jerashholdings.com.
Forward Looking Statements
This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect Jerash's current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including those risks described from time to time in filings made by Jerash with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected. Statements contained in this news release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Jerash does not intend and does not assume any obligation to update these forward-looking statements, other than as required by law.
Matt Kreps, Darrow Associates Investor Relations
Richard J. Shaw, Chief Financial Officer
SOURCE: Jerash Holdings (US), Inc.