New Burlington cotton complex in Vietnam
08/06/2006
International Textile Group, Inc. (ITG) has stated that its Burlington WorldWide division plans to build a cotton manufacturing complex in DaNang, Vietnam. The complex will be a joint venture called Burlington Phong Phu Supply Chain City, with WL Ross & Co—a subsidiary of ITG holding —holding a 60% stake and 40% held by Vietnamese textile and garment enterprise Phong Phu Corporation. The investment will exceed $80 million.
Supply Chain City will offer apparel customers products ranging from fabric to finished garments. Capabilities will include weaving, dyeing and finishing operations as well as garment sewing and wet processing.
It is expected to be operational within the next 18 months with a dyeing and finishing capacity of 60 million yards. The complex will employ more than 1,500 people.
Chairman of ITG, Wilbur Ross, said, "Vietnam is becoming an increasingly important resource for garment production. Its pending membership in the World Trade Organisation will be critical to fully realise the future contributions of this country. We are pleased by last week's US trade agreement with Vietnam and urge the continued progress towards the country's entry into the WTO."
Supply Chain City will offer apparel customers products ranging from fabric to finished garments. Capabilities will include weaving, dyeing and finishing operations as well as garment sewing and wet processing.
It is expected to be operational within the next 18 months with a dyeing and finishing capacity of 60 million yards. The complex will employ more than 1,500 people.
Chairman of ITG, Wilbur Ross, said, "Vietnam is becoming an increasingly important resource for garment production. Its pending membership in the World Trade Organisation will be critical to fully realise the future contributions of this country. We are pleased by last week's US trade agreement with Vietnam and urge the continued progress towards the country's entry into the WTO."
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