Jerash forms JV with NTX for $30M sustainable fabric facility in Jordan using waterless dyeing

Jerash Holdings (US), Inc.

Joint venture Jerash Newtech (Hong Kong) Holdings; Jerash 51%, NTX 49% ownership.
Estimated initial capex ~$30M for knitting plant, dyeing house, labs, workers' housing; construction starts H1 2024.
NTX Cooltrans waterless technology: >90% water, 65% energy, 40% chemical, >50% carbon reduction vs traditional dyeing.
Facility in Jordan to create high-tech jobs; Jerash working with Jordanian government on support.
Represents new vertical integration and revenue source for Jerash; reaffirms sustainability commitment.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Jerash Holdings (US), Inc. entered into Shareholders' Agreement with Newtech Textile (HK) Limited (effective 2023-10-10).

Action: entry
Counterparty: Newtech Textile (HK) Limited
Effective: 2023-10-10

Exact text from the filing

On October 10, 2023, Jerash Holdings (US), Inc., a Delaware corporation (the “Company”), through its wholly-owned subsidiary Treasure Success International Limited, a Hong Kong company (“Treasure Success”), entered into a Shareholders’ Agreement (the “Agreement”) with Newtech Textile (HK) Limited, a Hong Kong company (“Newtech,” and together with Treasure Success, the “Parties”).

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Jerash Holdings (US), Inc. filing history →

Source: SEC EDGAR

accession 0001013762-23-003320

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