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April 25, 2015 11:19 AM ET

Textiles, Apparel and Luxury Goods

Company Overview of Lakeland Brasil S.A.

Company Overview

Lakeland Brasil S.A. designs and produces individual protection equipment. It offers various garment and accessories options for thermal protection, anti-flame, and general risk. The company provides turnout gear, electric arc, chemical protection, operational, multilayer, waterproof, aluminized, conductive, and molten metal garments. Lakeland Brasil S.A. was formerly known as Qualytextil S.A. The company was formerly known as Qualytextil S.A. and changed its name to Lakeland Brasil S.A. in May 2009. The company was founded in 1999 and is based in Salvador, Brazil. As of May 13, 2008, Lakeland Brasil S.A. operates as a subsidiary of Lakeland Industries Inc.

Rua do Luxemburgo, 260

Lotes 82/83 Quadra O

Condomínio Industrial Presidente Vargas - Pirajá

Salvador, BA 41230-130

Brazil

Founded in 1999

Phone:

55 71 3390 3000

Fax:

55 71 3390 3013

Key Executives for Lakeland Brasil S.A.

Chief Executive Officer of Lakeland Industries Inc and President of Lakeland Industries Inc
Age: 62
Compensation as of Fiscal Year 2014.

Lakeland Brasil S.A. Key Developments

Lakeland Brasil S.A. Announces Auditor Changes

On July 23, 2014, Lakeland Brasil S.A. announced that ACAL Consultoria e Auditoria S.S. (ACAL), the independent registered public accounting firm for the company resigned effective with the engagement of Mazars Auditores Independentes S.S (Mazars Brazil) as company's new independent registered public accounting firm.

Lakeland Brasil, S.A Announces Partial Conversion of Existing Loan with Mercantil do Brasil, S.A

On December 30, 2013, Lakeland Brasil, S.A., a wholly owned subsidiary of the Company, converted BRL 500,000 (approximately USD 213,000) of the outstanding portion of its already existing loan with Mercantil do Brasil S.A. to a term loan at an interest rate of 1.50% per month. The material terms of the loan, as converted, are as follows: Conversion of existing overdraft facility to a term loan: 24 monthly payments with first payment on February 10, 2014 with total value of BRL 33,705.57 (about USD 14,342). Interest Rate: 1.5% monthly or 19.56% yearly. The start date was December 30, 2013. The end date was January 11, 2016 with payment of BRL 12,446.46.

Lakeland Brasil S.A. Completes New Loan in the Amount of BRL 500,000 with Bank Itau

On December 19, 2013, Lakeland Brasil, S.A. completed a new loan in the amount of BRL 500,000 (approximately $211,000) with Bank Itau at an interest rate of 1.53% per month. The proceeds of the loan are primarily for working capital purposes. The material terms of the loan are as follows: Due Date is July 31, 2014 and Principal payments: BRL 7,636,082 monthly commencing January 31, 2014 (approximately $32,000).

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