Jerash Holdings (US), Inc. and Busana Apparel Group Signs Agreement to Form Joint Venture Company
March 21, 2023 at 11:30 am
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Jerash Holdings (US), Inc. and Busana Apparel Group announced they have signed an agreement to form a joint venture company for producing custom, ready-made, sportswear and outerwear in Jordan for Busana's global branded customers that favor geographic manufacturing diversity. The new company will operate under the name, J&B International Limited, and will bring together two of the industry's leading apparel manufacturers, serving many iconic, high-profile global brands. Busana is supported by more than 28,000 employees worldwide and has 30 manufacturing facilities in Indonesia and Ethiopia.
Jerash has long-established manufacturing operations in Jordan, with plans in place for further capacity expansion. As part of the agreement, Jerash will own a 51% equity stake in the joint venture, and Busana will own 49%. The companies will contribute a proportionate amount of $1.5 million as working capital to launch the new entity.
Jerash Holdings (US), Inc., through its wholly owned subsidiaries, is principally engaged in the manufacturing and exporting of customized, ready-made sportswear and outerwear from knitted fabric and personal protective equipment (PPE) produced in its facilities in the Hashemite Kingdom of Jordan (Jordan). The Company manufactures and exports custom, ready-made, sportswear and outerwear for global brands and retailers. The global brands and retailers include VF Corporation, which owns brands, such as The North Face, Timberland, and Vans; New Balance, G-III, which licenses brands, such as Calvin Klein, Tommy Hilfiger, DKNY, and Guess; American Eagle; and Skechers. Its sportswear and outerwear product offering consists of jackets, polo shirts, t-shirts, pants, and shorts. Its primary product offerings include shorts, pants, and vests. Its PPE product offering consists of branded (washable) and disposable face masks, medical scrubs, protective coveralls, and surgical gowns.
JERASH HOLDINGS (US), INC. 
