VIETNAM: Vinatex invests $104m in vertical garment complex
The Vietnam National Textile and Garment Group (Vinatex) plans to start construction of a new VND2.2 trillion (US$104m) vertical textile and garment complex at the end of the first quarter of 2014.
The facility in An Lao district, near the northern city of Hai Phong, will include spinning, dyeing and garment manufacturing, as well as wastewater treatment.
According to Hoang Ve Dung, deputy general director of Vinatex, the complex will realise a goal of self-reliance in garment production, covering everything from fibre production, spinning and dyeing through to the finished garment.
Once operational, the complex will employ around 5,000 workers and is expected to earn $54m in export revenues in the first year.
In mid-August last year, Vinatex started construction of a VND258bn spinning plant in Phu Bai industrial zone in the central province of Thua Thien-Hue, with 21,600 spindles.
Vinatex is one of Asia's largest garment groups, consisting of almost 120 subsidiaries and joint ventures across the entire textile manufacturing industry.
The Vietnam National Textile and Garment Group (Vinatex) is hoping a planned initial public offering will help boost earnings and allow it to invest further in the business....
Vietnam has become the second largest source of foreign textiles and clothing in the US market and has established a strong presence in the Japanese and European markets, especially for clothing. Also...
The following is a round-up of apparel and footwear news from the world's local media. just-style has not checked these stories so cannot guarantee their accuracy....
Apparel specialist retailers witnessed a current value decline of 6% from 2011 to reach sales of below VND23 trillion in 2012. Decline was due to the economic slowdown. In 2012, the Vietnamese economy...
- Improved supplier capabilities benefit Next
- India's labour law reforms edge a step closer
- THE FLANARANT: Understand win-win or lose out
- China and Vietnam lead US apparel imports in July
- Retailers voice concerns on Scottish independence
- H&M goes green with Conscious Denim
- Under Armour "resonating strongly" with consumers
- TPP talks "make progress" but issues remain
- Adidas defends position despite investor unrest
- Ultrasonic execs disappear along with company cash
- Apparel Market in China to 2018 - Market Size, Trends, and Forecasts
- Wool in the 21st Century: new prospects for a familiar fibre
- Global market review of denim and jeanswear – forecasts to 2020
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Global Database of the Top 1000 Cut and Sew Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details