MISGAV, Israel, May 20, 2010 /PRNewswire-FirstCall/ -- Tefron
Ltd. (OTC:TFRFF; TASE:TFRN), the global leader in seamless and
engineered apparel, today announced the appointment of Ilan Gilboa as Executive Vice President for
Operations and Customer Support. The company also announced the
departure of Amit Tal as chief
marketing officer, who has resigned and chosen to take a position
with another company.
Mr. Gilboa brings to Tefron 14 years of experience in a variety
of operational roles, from introducing shop floor control systems
to senior management of multi-site, multi-country operations. His
management experience includes six years at Tefron as manager of
the HITEX and TEFRON divisions. Most recently, Mr. Gilboa was VP
for Global Operations of N-trig Company, a computer device company,
where he had responsibility for the establishment and functioning
of a wide supply chain for the company's worldwide operations.
Remarking on Mr. Gilboa's appointment, Tefron CEO Amit Meridor said, "In our 2009 fourth quarter
announcement, we stated that our focus in 2010 would be to the
improvement of our manufacturing processes to ensure strict quality
control, shortened lead times, and on-time delivery. Ilan brings to
Tefron the direct sector experience, supply chain experience and
overall managerial experience to direct the rebuilding of our
manufacturing activities to be more cost efficient and responsive
to customer needs and time requirements
Commenting on the resignation of Amit
Tal as chief marketing officer, CEO Amit Meridor said, "Amit
Tal has been an outstanding contributor to Tefron for the
past eight years, most notably having led the strategic development
of our sports division. Tal has also been instrumental in the
management of the intimate apparel division, as well as the
development of Tefron's turnaround plan. We are very pleased that
Tal will assist in the transition to new marketing leadership."
"In addition to these management changes," concluded CEO
Meridor, "I can report to you the implementation of immediate plans
to strengthen our marketing and sales organizations in North America with restructuring in both our
Portland and NY sales offices. These changes to our North American
operations, as well as Ilan Gilboa's
appointment are an integral part of a worldwide effort in 2010 to
focus on operations and customer service, so as to bring the most
innovative products to the market.
About Tefron
Tefron manufactures boutique-quality everyday seamless intimate
apparel, active wear and swim wear sold throughout the world by
such name-brand marketers as Victoria's Secret, Nike, lululemon
athletica, Warnaco/Calvin Klein ,
Walmart Stores Inc, The Gap, J. C.
Penney, Maidenform, , Patagonia, Reebok, and El Corte
Ingles, as well as other well known retailers and designer labels.
The company's product line includes knitted briefs, bras, tank
tops, boxers, leggings, crop, T-shirts, nightwear, bodysuits, swim
wear, beach wear and active-wear.
This press release contains certain forward-looking statements,
within the meaning of Section 27A of the US Securities Act of 1933,
as amended, Section 21E of the US Securities Exchange Act of 1934,
as amended, and the safe harbor provisions of the US Private
Securities Litigation Reform Act of 1995, with respect to the
Company's business, financial condition and results of operations.
We have based these forward-looking statements on our current
expectations and projections about future events.
Words such as "believe," "anticipate," "expect," "intend,"
"will," "plan," "could," "may," "project," "goal," "target," and
similar expressions often identify forward-looking statements but
are not the only way we identify these statements. Except for
statements of historical fact contained herein, the matters set
forth in this press release regarding our future performance, plans
to increase revenues or margins and any statements regarding other
future events or future prospects are forward-looking
statements.
These forward looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those contemplated in such forward-looking statements,
including, but not limited to:
- the effect of the worldwide recession on our sales to our
customers in the United States and in Europe and on our ability to
finance our operations;
- our customers' continued purchase of our products in the same
volumes or on the same terms;
- the cyclical nature of the clothing retail industr and the
ongoing changes in fashion preferences;
- the competitive nature of the markets in which we operate,
including the ability of our competitors to enter into and compete in
the seamless market in which we operate;
- the potential adverse effect on our business resulting from our
international operations, including increased custom duties and import
quotas (e.g. in China, where we manufacture for our swimwear division).
- fluctuations in inflation and currency rates;
- the potential adverse effect on our future operating efficiency
resulting from our expansion into new product lines with more
complicated products, different raw materials and changes in market
trends;
- the purchase of new equipment that may be necessary as a result
of our expansion into new product lines;
- our dependence on our suppliers for our machinery and the
maintenance of our machinery;
- fluctuations in the costs of raw materials;
- our dependence on subcontractors in connection with our
manufacturing process;
- our failure to generate sufficient cash from our operations to
pay our debt;
- political, economic, social, climatic risks, associated with
international business and relating to operations in Israel;
as well as certain other risks detailed from time to time in the
Company's filings with the Securities and Exchange Commission. The
Company undertakes no obligation to publicly release any revisions
to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
Contacts
Company Contact:
Eran Rotem
Chief Financial Officer
+972-4-990-0881
reran@tefron.com
SOURCE Tefron Ltd
