Jerash forms JV with Busana Apparel Group for apparel production in Jordan; 51% ownership

Jerash Holdings (US), Inc.

Jerash subsidiary Treasure Success and Busana's Eratex form J&B International Ltd.
Jerash owns 51%, Busana 49%; initial working capital $1.5M contributed proportionately.
JV will produce apparel in Jordan for Busana's global branded customers seeking geographic diversity.
Initial manufacturing expected to begin in H2 2023.
Jerash cites duty-free export agreements with US, EU as advantage.

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 Joint Venture and Shareholder’s Agreement with P.T. Eratex (Hong Kong) Limited (effective 2023-03-20).

Action: entry
Agreement: collaboration
Counterparty: P.T. Eratex (Hong Kong) Limited
Effective: 2023-03-20

Exact text from the filing

On March 20, 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 Joint Venture and Shareholder’s Agreement (the “Agreement”) with P.T. Eratex (Hong Kong) Limited, a Hong Kong company (“Eratex,” and together with Treasure Success, the “Parties”).

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Jerash Holdings (US), Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-021578

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