Lexor purchases Denim Jean maker to hub clothing industry
05 Jul '05
2 min read
US based company Lexor Holdings Inc has bought Jeantex Inc, a California corporation, to focus on new opportunities in the Textile - Apparel Clothing industry.
According to the terms of the purchase agreement, which was closed on June 29, 2005, Lexor Holdings has acquired 100% of the issued and outstanding shares of Jeantex and will issue 56,350,000 new restricted shares in connection with this transaction, all of which are subject to the Rule 144 holding period and the filing of a Registration Statement. Lexor will not effect a reverse split of its already issued and outstanding shares.
Jeantex has been engaged in the design, development, manufacturing, and marketing of consumer products for the apparel markets worldwide. Jeantex manufactures denim jeans for prominent brand names such as ABS, Blue Cult, Guess, Hurley, Limited Express, and Lucky.
Jeantex also manufactures and markets new lines of uniquely designed premium jeans, T-Shirts, and accessories under the "Bone People" trademark, which are being marketed in Germany, Japan, Portugal, Scandinavia, Spain, and the US.
Lexor Holdings has submitted paperwork with the State of Florida to change its corporate name to Jeantex Group, Inc. and will also change its stock trading symbol to better reflect the new business focus.
Susan Shin, President and CEO of Jeantex, Inc., stated: "Jeantex is an established and profitable jean manufacturer with an excellent reputation in the industry. Now as a part of the public company, we will have a stronger foundation to grow our business organically and acquire other opportunities in the Textile - Apparel Clothing industry to create additional value for all our shareholders."
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