Sports shoe giant Yue Yuen Industrial (Holdings) Ltd and fabric firm Formosa Taffeta Corp were on Wednesday reported to be close to investing in Taiwanese sportswear maker Quang Viet Enterprise Co.

The move comes just a few weeks after Yue Yuen, which makes footwear for top brands such as Nike, Timberland, Adidas and Reebok, bought a 73 per cent stake in sportswear and casualwear maker Pro Kingtex Industrial Co Ltd.

Quang Viet has two plants in mainland China and Vietnam and enjoyed sales of $29 million last year. Its in Ho Chi Minh City factory employs 5,000 people and specialises in the manufacture of Nike sportswear.

Formosa Taffeta, a leading manufacturer of taffeta fabrics, currently holds a 10 per cent stake in Quang Viet but wants to increase that to almost 30 per cent.