Pacific Textiles Increases stake in PT Sri Lanka to 60% For a Cash Consideration of US$ 1,630,000. Under the Agreement, Pacific Textiles has agreed to purchase 8% of sales shares of PT Sri Lanka from Brandix in a cash consideration of US$ 1,630,000. The consideration for the acquisition will be funded by the internal resources of the Group.

Upon completion of the acquisition, Pacific Textiles and Brandix will own 60% and 40% of PT Sri Lanka respectively. As part of the Company’s strategy to expand the production volume and the geographic scope of operations, Pacific Textiles acquired a controlling interest in knitting and dyeing facility in PT Sri Lanka in 2004, and have since expanded its annual production capacity.

The expansion plans of PT Sri Lanka have been proceeded as planned and the production capacity of PT Sri Lanka will be double that of the existing capacity upon the completion of the expansion plans (which is expected to be completed by March 2008). The acquisition will enable the Company to capitalize the benefits of the expansion plans of PT Sri Lanka.

Pacific Textiles Ltd is a leading manufacturer of customized knitted fabric in textile industry. The headquarters is located in Hong Kong, an international commercial hub in Asia Pacific, with its production base in Panyu, South China - heart of Pearl River Delta Region. The production plant is well-equipped with advanced production facilities, including a scalable water treatment facility and cogeneration power plant, which are keys to production efficiency and flexibility. Providing integrated services of knitting, dyeing, printing and finishing, with an annual production capacity of approximately 87 million kg. More than 6,500 staff are employed in the production area and many of them are experienced professionals in textile industry.

It has collaborated closely with apparel brand owners to design fabrics that meet customized order particulars. Its finished fabrics comprise more than 5,000 designs and specifications to sell to the global market. The fabrics are used in a broad range of garments, including men’s, women’s and children’ clothing, sportswear, swimwear and inner-wear.It has established relationships with owners and leading brands worldwide.

Products & Services

Pacific Textiles is dedicated to become the market leader of excellent quality textile products and services that exceed its customers’ expectations. It has achieved superior innovative quality products and services by continually improving its manufacturing, technologies, and business processes and by working together with its business partners to provide the array of new products and services needed to compete successfully in a global market.

The production process is capital intensive rather than labour intensive as it is highly mechanized. It processes cotton and synthetic yarn into weft knitted or warp knitted fabrics. The production cycle can generally be divided into four processes: Knitting, dyeing, printing and finishing.

Manufacturing Facilities

The Company is operating at close to full capacity and are constantly working to enhance its competitive position through selective expansion and upgrading.

Sales & Marketing

Customers are crucial to the success. We team up with apparel brand names and garment manufacturers in providing a streamlined procurement process starting with fabric selection to the final product. The Company has built strong relationships with internationally-renowned brands have earned us a reputation for delivering quality products and services, positively driving the sales.

The fabrics are used in a broad range of garments, including men's, women's and children's clothing, sportswear, swimwear and inner-wear. The Company has established relationships with owners of leading brands such as Calvin Klein, Maidenform, Triumph, UNIQLO, VF Intimates and Victoria's Secret.