NANJING, China, June 18 /Xinhua-PRNewswire-FirstCall/ -– Ever-Glory International Group, Inc. (OTC Bulletin Board: EGLY) ("Ever-Glory," "the Company"), a leading apparel manufacturer in the People's Republic of China ("PRC"), announced today that as of June, it has received production orders valued at approximately $1.0 million for the year from one of its new customers, Levi Strauss (Hong Kong) Limited ("Levi Strauss (HK)").
The new production order mainly consists of cargo pants and Chino trousers and will provide a portion of Levi Strauss (HK)'s supply to the Asian market. Levi Strauss (HK) elected to partner with Ever-Glory after completing a 2006 review of the Company's high-quality production process and track record of high-level customer service, as well as its strong original design abilities. The Company began offering its own design styles and collections to Levi Strauss (HK) in the latter half of 2006.
"We are delighted to continue working with Levi Strauss (HK) this year," said Mr. Yihua Kang, Ever-Glory's Chairman, President and Chief Executive Officer. "This is not only a new addition to our strong client base, but also an important strategic partner for us as we continue to pursue the higher-margin casualwear market. We believe our increased production capacity from our New-Tailun subsidiary and commitment to quality control will attract more world-class clients globally and provide opportunities to develop long-term relationships with them."
Ever-Glory continues its aggressive business expansion by increasing orders from existing clients and successfully forming partnerships with new clients in order to achieve its plan for sustainable, long-term growth.
About Levi Strauss (Hong Kong) Limited
Levi Strauss (Hong Kong) Limited is one of the 14 affiliates in the Asia Pacific Division of Levi Strauss & Co. Established in 1995, this division is comprised of subsidiary businesses, licensees and distributors throughout the Asia Pacific region, the Middle East, Africa and Latin America. Asia Pacific Division sources, manufactures and markets Levi's(R), Dockers(R), and Levi Strauss Signature(R) products. For more information about Levi Strauss (HK), please visit: http://levistrauss.com and http://www.levi.com.hk .
About Ever-Glory International Group, Inc.
Ever-Glory International Group, Inc. is a U.S. publicly traded company engaged in international garment manufacturing for well-known middle- to high-grade casual, outer, and sportswear brands. The company's U.S. headquarters is based in Los Angeles, CA, although Ever-Glory also owns two full subsidiary companies, Nanjing Goldenway Garments Co. Ltd., and New-Tailun Garment Co, Ltd. Ever-Glory has strategic business partners in China, Europe, the U.S. and Japan. The Company cooperates with well-respected apparel retail chains such as Itochu, Shinko, Debenhams, Next, C&A, Itoyokado and others in handling high- and middle-grade casual wear and sportswear. The Company has also entered into production and sales cooperation agreements with a number of internationally famous brands such as BB Dakota, Best-Seller, Eddie Bauer, Levi Strauss, Matalan and others. Ever-Glory employs more than 1,500 people. For more information about Ever-Glory International Group, please visit: http://www.everglorygroup.com .
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to the company's ability to accurately complete product orders, coordinate product design with its customers, ability to expand and grow its distribution channels, political and economic factors in the People's Republic of China, the company's ability to find attractive acquisition candidates, dependence on a limited number of larger customers and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
