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Monday 09th of October 2006 08:00:00 AM

US t-shirt manufacturer Gildan Activewear is set to gain market share due to the bankruptcy of a rival firm, it has emerged.

Anvil Knitwear, which has production facilities in the Carolinas, went into receivership last week, according to the Montreal Gazette.

Jessy Hayem, an analyst at Desjardins Securities, said Gildan could benefit from the news, through an increased customer base.

Last month, Gildan announced a restructuring plan which will see the firm open new factories in Honduras and the Dominican Republic.

Following the announcement, Mr Hayem said the timing of the move is ahead of the firm's expectations and is "positive".

The firm hopes to make gains over its competitors using low-cost manufacturing operations.

Earnings guidance has been revised for the final quarter of 2006, with earnings per share down approximately $0.58 (£0.31), fibre2fashion claims.

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