Apparel maker Jerash rises on deal to buy new factory in Jordan

Jerash Holdings (US)

29/06/2021 15:32

** Apparel manufacturing co's shares  JRSH.O  rise 6.8% to
$6.7899 on deal to acquire new factory 
    ** Co signed deal with MK Garments MFG Co to acquire Mustafa
and Kamal Ashraf Trading Company in Amman, Jordan  urn:newsml:reuters.com:*:nACS41bfZa
    ** The apparel manufacturing facility will be bought by
Jerash for ~$2.8 mln in cash
    ** The facility is expected to enable Jerash to produce ~2.5
mln to 3.5 million additional garments per year, adding about
20% to Jerash's current annual capacity
    ** JRSH shares have risen 16% YTD

 (Reporting by Shreyashi Sanyal)
 ((Shreyashi.Sanyal@thomsonreuters.com))