NANJING, China, June 26 /Xinhua-PRNewswire-FirstCall/ -- Ever-Glory International Group, Inc. (OTC Bulletin Board: EVGY) (''Ever-Glory", the ''Company''), a leading apparel manufacturer in the People's Republic of China (''PRC''), today announced it passed a manufacturing quality evaluation by Li & Fung Trading Group, the importing agency for Country Road Limited (''Country Road'').
The affirmative evaluation allows Ever-Glory to begin cooperating with Country Road in the future. The evaluation process focused on Ever-Glory's manufacturing quality and employee work environment, as required by Country Road.
''We are very pleased by to have passed this evaluation, as it allows us to work more closely with Country Road, a well-known retailer in Australia and New Zealand,'' said Mr. Yihua Kang, Chairman and Chief Executive Officer of Ever-Glory. "Ever-Glory continues to be committed to providing high-quality products and services to our business partners, which in turn brings us additional opportunities to exceed international standards, including those in Australia, Europe and the U.S.''
During the 2007 fiscal year Country Road earned net income of AUS $17.0 million on AUS $240.8 million in revenue. The retail chain currently operates 132 concession, retail and warehouse stores in Australia and New Zealand, including in Brisbane, Melbourne and Sydney, Australia, and in Auckland, Queenstown and Wellington, New Zealand.
About Country Road Limited
Founded in 1974 and headquartered in Australia, Country Road is engaged in the design, sourcing, retail, licensing and wholesale distribution of quality lifestyle products. In the 1990s, Country Road expanded into Asia, as well as expanding its own retail stores through the Country Road "superstore" concept, combining its four key product areas in select shopping locations. For more information, please visit http://www.countryroad.com.au .
About Ever-Glory International Group, Inc.
Ever-Glory International Group (OTCBB: EVGY) is a U.S. publicly-traded company engaged in international garment manufacturing for well-known middle- to high-grade casual, outerwear and sportswear brands. The company's U.S. headquarters is based in Los Angeles, California, although Ever-Glory also has three subsidiaries, Goldenway Nanjing Garments Co. Ltd., Nanjing New-Tailun Garments Co, Ltd. and Nanjing Catch-Luck Garments Co., Ltd. Ever-Glory has strategic business partners in countries including China, Japan, Europe and the U.S. The company conducts business with well-known garment retail chains. In 2007, 57% of the company's total sales revenue came from customers in Europe, 16% from Japan, 21% from the United States and 6% from within China. 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 candidate and/or joint venture partners, the performance of third parties with whom the company does business, 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.
For more information, please contact:
Ever-Glory International Group, Inc.
Emily Guo, Chief Financial Officer
Tel: +86-25-5209-6222
Email: emily@ever-glory.com
CCG Elite Investor Relations
Crocker Coulson, President
Tel: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
SOURCE Ever-Glory International Group, Inc.
International News / Press Release source: PR Newswire
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