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Jerash Holdings Completes Purchase of Land and Building in Amman, Jordan

Thursday, August 25, 2022 8:00 AM
Jerash Holdings (US), Inc.

Company Has Occupied and Operated the Manufacturing Facilities at Property Since Acquiring MK Garments Last Year in Separate Transaction

FAIRFIELD, NJ / ACCESSWIRE / August 25, 2022 / Jerash Holdings (US), Inc. (NASDAQ:JRSH) (the "Company" or "Jerash"), which manufactures and exports custom, ready-made, sports and outerwear for leading global brands, today announced its wholly owned subsidiary, Jerash Garments and Fashions Manufacturing Co., Ltd., has completed the previously announced purchase agreement with Kawkab Venus Al Dowalyah Lisenaet Albesah for the 71,000 square-foot factory building and land, which house the Company's latest acquired MK Garments factory, in Amman, Jordan, for $2.7 million in cash.

Jerash took over production at the MK Garments facility and its 500 employees in August 2021 and completed the acquisition in October 2021. Since, the Company has fully transitioned the facility to manufacture products for Jerash's customers.

About Jerash Holdings (US), Inc.

Jerash Holdings (US), Inc. manufactures and exports custom, ready-made, sportswear and outerwear for leading global brands and retailers, including VF Corporation (which owns brands such as The North Face, Timberland, and Vans), New Balance, G-III (which owns brands such as Calvin Klein, Tommy Hilfiger, DKNY, and Guess), American Eagle, and Skechers. Jerash's existing production facilities comprise six factory units and four warehouses, and Jerash currently employs approximately 5,800 people. Additional information is available at www.jerashholdings.com.

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Contact:
PondelWilkinson Inc.
Judy Lin Sfetcu or Roger Pondel
310-279-5980
[email protected]

SOURCE: Jerash Holdings (US), Inc.

Topic:
Company Update
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