Jeantex Group to acquire Sanatex

Jeantex Group, which supplies garments – including jeans – to Limited Express and Guess, announced that it has signed a Letter of Intent to acquire Sanatex Incorporated. Based in Carson, California, Sanatex has manufacturing facilities situated in the Private Free Zone in Kalubeia, Egypt. Sanatex will become a wholly owned subsidiary of Jeantex, and the company will be led by current Sanatex CEO Hassanein M. Hassanein, whom Jeantex claims is Egypt's second largest exporter of apparel. Jeantex Chairman Henry Fahman said the company plans to increase production for both Sanatex and Jeantex from Sanatex's manufacturing facilities