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TULTEX AND NISSAN TRADING FORM PARTNERSHIP TO DISTRIBUTE FLEECEWEAR PRODUCTS IN JAPAN

 TULTEX AND NISSAN TRADING FORM PARTNERSHIP TO DISTRIBUTE
 FLEECEWEAR PRODUCTS IN JAPAN
 MARTINSVILLE, Va., June 19 /PRNewswire/ -- Tultex Corporation (NYSE: TTX), one of the world's largest manufacturers of fleece and jersey activewear, and Nissan Trading Co., Ltd., a wholly owned subsidiary of Nissan Motor Co., Ltd., have reached an agreement under which Nissan Trading Co. would become the exclusive trading partner in Japan for Tultex Maximum Sweats and Discus Athletic branded products.
 The two companies are now fine-tuning details of the contract, which should be completed within the next few weeks, according to Danny Robertson, vice president of international sales of Tultex.
 Company officials said the partnership evolved in response to Japanese consumer demand for American-made activewear. Japan's consumer population now exceeds 120 million people.
 "We've been doing business in Japan with the Discus Athletic brand for several years," Robertson said. "The wide consumer acceptance of our products prompted us to seek out a strong trading partner to help us better serve the increasing demands of the Japanese market.
 "It's a very important move for Tultex. From a sales volume perspective, the impact can be tremendous of our two companies. At the same time, we're creating a much broader market for our products in the future. We hear a lot about the threats of a global economy to U.S. apparel manufacturers. It's often overlooked that American apparel products such as sweatshirts, T-shirts, and jeans are exported in large and growing quantities. This business relationship with Nissan will not only increase our sales and profits but will improve the employment security of our people."
 "Nissan Trading Company sees the potential created by the big demand for American-made fleece and jersey in the Japanese marketplace," said Takao Yamamoto, deputy general manager of merchandise for Nissan Trading. "We were especially attracted by the style and quality of Tultex and Discus Athletic products.
 The brands offer a wide range of sizes and colors in simple and functional designs that are very popular in Japan. We have high expectations for the future of this partnership."
 Tultex management will travel to Japan in mid-July to meet Nissan Trading Company's board of directors and kick off the joint entry into the Japanese apparel market. Tultex products to be offered to consumers exclusively through Nissan Trading are Tultex Maximum Sweats, the company's fashion/active brand, and Discus Athletic, a sports-oriented brand.
 Tultex, headquartered in Martinsville for over 55 years, posted 1991 sales in excess of $315 million. In January 1992, the company acquired Logo 7, a major producer of pro-sports licensed apparel. Tultex has also signed an agreement to acquire Universal Industries, Inc., a privately owned professional hatwear licensee located in Mattapoisett, Mass. Tultex, a vertically integrated manufacturer, employs about 7,000 people at plants in Virginia, North Carolina, Indiana and Jamaica and has been aggressively marketing its products internationally for the past few years.
 Nissan Trading Co. Ltd., established in 1978 by Nissan Motor Co., Ltd., is headquartered in Tokyo and reports sales of more than $1.3 billion.
 -0- 6/19/92
 /CONTACT: John M. Franck, chairman and CEO, 703-632-2961, or Danny Robertson, vice president, 703-632-2961, both of Tultex/
 (TTX) CO: Tultex Corporation; Nissan Trading Co. Ltd. ST: Virginia IN: TEX SU: JVN


CK-OS -- NY015 -- 1851 06/19/92 10:37 EDT
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Publication:PR Newswire
Date:Jun 19, 1992
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