Tefron to Establish JV in Egypt

Tefron 

Israeli seamless active wear manufacturer Tefron is looking to establish a joint manufacturing venture in Egypt. Tefron is know for its  Engineered For PerformanceTM products and customers include Nike, Patagonia, Reebok, The North Face, Lululemon and Eddie Bauer.

The JV would be established through an Egyptian company ("Tefron Egypt") in which Tefron will hold a 50% interest and the remaining interests would be held by three other partners. Under the proposed arrangement, Tefron would transfer to Tefron Egypt equipment with a value of approximately US $1 million and the other partners would invest in Tefron Egypt approximately US $1 million in cash that would be used for investments and working capital required to commence the activities of Tefron Egypt.Further details and timing are not yet know.

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