Gildan Agrees to Buy Prewett for $125 Million in Cash to Add Sock Business

Sep 18, 2007 Full story: Bloomberg.com 8

Gildan Activewear Inc., North America's biggest T-shirt maker, said it agreed to buy U.S. sockmaker V.I. Prewett & Son Inc. via Bloomberg.com

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annonomus

United States

#1 Sep 27, 2007
will mills in fort be closed
annonomus

United States

#2 Sep 27, 2007
will mills in fort payne be closed
Prewett Worker

Morehead, KY

#3 Sep 29, 2007
It is likely that the Prewett Finishing and Distribution will be closed within a year. It will not be financially viable for Gildan to use North American labor to finish socks. This is especially true when the large manufacturing facilities that Gildan has in Honduras coupled with the new facility that is going to be built next year. Why would new facilities be built? The answer is obvious. Kentucky Derby Hosiery lost over 800 jobs in the past 18 months to Gildan. The same scenario will play out in Fort Payne, AL as well.
mill worker too

United States

#4 Sep 30, 2007
bring on casinos
annonomus

United States

#5 Oct 5, 2007
Now that Prewetts has been sold,it would be classy for The Prewett family to set aside small amount of profit for those who worked so hard for them when Gildan closes plants.
old worker

United States

#6 Oct 5, 2007
I agree thats what V.I. jr. and sr. would have done.
harleybabe

Flat Rock, AL

#7 Oct 6, 2007
Casinos & unions or make minimal pay the rest of your lives!
old worker

Talladega, AL

#8 Oct 6, 2007
During the last few days at v.i.p. the employees have showen random acts of kindness to people for the most part they didn`t even know. All the while being in a state of limbo about there own economic future. At the end of the day it just comes down to how you treat other who are less fortunate.

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