Business
Jerash Announces Results of Annual Meeting, Strong Factory Bookings
FAIRFIELD, NJ / ACCESSWIRE / September 17, 2020 / Jerash Holdings (US), Inc. (NASDAQ:JRSH) (the "Company" or "Jerash"), a producer of high-quality textile
About this update from Jerash Holdings (us), Inc.
[{"type":"text","content":"FAIRFIELD, NJ / ACCESSWIRE / September 17, 2020 / Jerash Holdings (US), Inc. (NASDAQ:JRSH) (the \"Company\" or \"Jerash\"), a producer of high-quality textile goods for leading global brands, today announced results of its annual meeting of stockholders held on September 16, 2020. The Company also announced continued strong factory bookings into calendar year 2021 as customers prioritize production with Jerash in order to take advantage of high-quality production with no tariff duties on goods imported to the United States and European Union.At the annual meeting of stockholders held on September 16, 2020, stockholders approved the election of Samuel Choi, Kitty Yang, Ibrahim Saif, Bill Korn and Mak Chi Yan to the board of directors of the Company, and ratified the selection of Friedman LLP as the independent registered public accounting firm of the Company for the 2021 fiscal year.\"Jerash is fortunate to have the support of our stockholders in electing a strong board of directors with multinational business experience as we continue to execute on our growth strategies,\" said Samuel Choi, Chairman and Chief Executive Officer of Jerash. \"Our factories in Jordan are fully booked through the year end and quickly filling into the spring of 2021. We continue to expand our business activity with new customer brands, as well as ship initial orders for our new PPE products to both consumer and healthcare end customers. This is an exciting time for Jerash, and I wish to extend my thanks to our employees for their diligence in working toward our continued success. With our debt-free balance sheet and strong cash position, we are well funded to take advantage of opportunities to further our capabilities and add capacity to support further growth ahead.\"About Jerash Holdings (US), Inc.Jerash Holdings (US), Inc. (NASDAQ:JRSH) is a manufacturer utilized by many well-known brands and retailers, such as Walmart, Costco, Hanes, New Balance, G-III, VF Corporation (which owns brands such as The North Face, Timberland, JanSport, etc.), and PVH Corp. (which owns brands such as Calvin Klein, Tommy Hilfiger, IZOD, etc.). Its production facilities comprise four factory units, one workshop, and three warehouses and it currently employs approximately 4,100 people. The total annual capacity at its facilities was approximately 8.0 million pieces as of ...