LOS ANGELES, May 1, 2006 (PRIMEZONE) -- Ever-Glory International Group (OTCBB:EGLY), a multinational enterprise specializing in garment manufacturing and exports, held a grand ceremony in celebration of the founding of its new factory in Nanjing Jiangning Economic and Technological Development Zone of China.
The size of the new factory is quite large in respect to most garment manufacturing facilities, taking up an area of 170 mu (11,220 hectares) and including a wide variety of comprehensive installations. The factory facilities include multiple productive workshops, an office building, design and development building, dining area and apartments.
Inside the production facilities the factory will offer sophisticated hardware to ensure constant high levels of quality while improving the ability to develop new materials and accessories. The technological improvements in the new facility will strengthen Ever-Glory's already impressive processing levels. The new factory will be in use by late 2006. At that point, annual production capacity is expected to reach more than 6,500,000 pieces and it will drastically increase current annual production capacity of more than 3,000,000 pieces.
"Ever-Glory International Group is committed to widening its lead in advanced garment manufacturing," said Edward Kang, President and CEO. "Our manufacturing network is a strategic asset of unmatched scope and scale that gives The Company the ability to provide customers with leading-edge products in high volume. Today's announcement of a Nanjing Jiangning Economic factory reaffirms that Ever-Glory platforms will contain the advanced and innovative technology for years to come," concluded Edward Kang, President and CEO of Ever-Glory International Group.
With the new facility, Ever-Glory International Group will continue to provide its markets with the same high-performance products and service that customers have come to expect. This factory represents a significant milestone in the great progress The Company has made in the clothing market, both in the US and across the world. It is an important investment which will enable them to continue to deliver strong growth and innovation from The Company's portfolio of garment manufacturing brands.
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 cooperates with well-respected garment retailer chains such as ITOYOKADO, UNIQLO, Debenhams, GAP, and ABERCROMBIE & FITCH (ANF), etc. in handling high and middle grade casual-wear and sportswear. The company entered into production and sale cooperation agreements with a number of internationally famous brands such as LEVI'S, GUESS (GES), OLDNAVY and others. The company employs about 700 people. At present, the market distribution is segmented as 35% in Japan, 50% in Europe and the 15% in United States.
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.