US: India's Sarla to open first US yarn and thread plant
SarlaFlex, the US subsidiary of Mumbai-based Sarla Performance Fibers, will open its new yarn and thread plant in South Carolina in the next few months.
The company secured US$13m in New Markets Tax Credits (NMTC) from the National New Markets Fund to help redevelop the plant.
SarlaFlex began installing equipment and rehabilitating the facility in early 2013, with the first phase of the plant fully operational during the first quarter of 2014, making polyester thread and yarn products for apparel and upholstery customers.
The plant currently employs 72 people to initiate trial runs and to set up production, and is likely to employ 150 people by the end of 2014.
“The New Markets Tax Credit programme has been a great help for Sarla to complete its US project and step up its manufacturing and hiring plans,” said Bobby Downs, SarlaFlex president.
The parent company has been in business for 25 years, with international operations in Honduras, Turkey, Portugal, Thailand and Vietnam. The SarlaFlex Inc subsidiary will run the new manufacturing facility.
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