SAN FRANCISCO, Jan. 12, 2006 (PRIMEZONE) -- Ever-Glory International Group (OTCBB:EGLY), an international manufacturer of apparel, today announced that its trading symbol on the Nasdaq National Market OTCBB trading system has been changed from ANDN.OB to EGLY.OB as of December 12, 2005.
"I am very pleased with our entrance to the U.S. public market and our symbol change as it puts us in a position to achieve continued international presence," commented Edward Kang, President and CEO of Ever-Glory International Group. Ever-Glory, a company involved in the manufacturing of apparel for men, women and children for primarily middle to high-grade, well-known casual wear, outerwear and sportswear brands, primarily exports to Japan, EU countries and the United States.
The Company currently operates a successful, highly advanced, 10,000 square meter factory in the Nanjing Jiangning Economic and Technological Development Zone of mainland, China, and staffs about 700 people, boasting an annual order volume of approximately 1,600,000 pieces.
The formation of the Company is the result of a merger of Andean Development Corporation, and Perfect Dream Limited. In January of 2005, Perfect Dream acquired 100% of Goldenway Nanjing Garments Co., Ltd ("Goldenway"), a limited liability company incorporated in the People's Republic of China. After its acquisition by Perfect Dream on April 20, 2005, Goldenway changed its status to a wholly foreign owned enterprise.
About Ever-Glory International Group
Ever-Glory International Group (OTCBB:EGLY) is a U.S. publicly traded company engaged in international garment manufacturing for well known middle to high-grade casual, outer, and sportswear brands. The company's U.S. headquarters is based in Los Angeles, CA, although Ever-Glory also owns a full subsidiary company, Nanjing Goldenway Garments Co. Ltd. located in China. Ever-Glory has strategic marketing and logistics channels located in, Japan, Europe, and United States and has strategic business partners in countries and regions including China, Hong Kong, the U.S., and the U.K. The Company has long-term partnerships with many world-famous clothing companies and retailing chains. The company employs about 700 people.
For more information about Ever-Glory International Group, please visit: www.everglorygroup.com.
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors are detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities.