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Hanesbrands (HBI)
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HBI » Topics » Other Comments

This excerpt taken from the HBI 8-K filed Apr 27, 2009.

Other Comments

In March, Hanesbrands announced that it amended its first-lien credit agreement with debt holders to delay the covenant’s most restrictive debt-leverage ratio from the fourth quarter 2009 until the third quarter 2011.

Based on its cash-flow expectations, the company reiterates its goal to reduce its long-term debt by at least $300 million in 2009 and its goal to reduce its year-end inventory by $150 million.

After assessing product demand modeling, the company has decided to start production Oct. 12, 2009, at its new Nanjing, China, knit textile manufacturing plant. The plant is the company’s first company-owned fabric manufacturing facility in Asia and will support the company’s product sewing operations in Southeast Asia.

 

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