Home / Knowledge / News / Apparel/Garments / Gobi JSC to invest in new equipment to boost production
Gobi JSC to invest in new equipment to boost production
13
Dec '11
The European Bank for Reconstruction and Development (EBRD) is providing a new loan of US$ 5 million to wool and garment company Gobi JSC for partial financing of an equipment modernisation programme that will improve the quality of the group's products and increase its production capacity.

The proceeds of the EBRD financing will be used to purchase new equipment in such areas as spinning, knitting, linking, weaving and finishing.

Established in 1981, Gobi is a fully integrated processor with capabilities ranging from primary processing to manufacturing of cashmere and camel wool knitwear and woven products. Gobi is majority owned by the Tavan Bogd Group of Mongolia and by HS Securities of Japan and is listed on the Mongolian Stock Exchange.

During the past two years Gobi has been restructured under new ownership and management following its privatisation. Gobi's Board of Directors and executive management team comprise experienced Mongolian and Japanese entrepreneurs and managers with a proven track-record and knowledge in the sectors where the group is active.

This latest loan is a follow-up financing to a loan provided by the EBRD to Gobi in 2009.

“We are happy that the EBRD has confirmed its commitment to support our company and the Mongolian cashmere sector by providing a follow-up loan to us and we are confident that this collaboration will help Gobi become an even more successful company”, stated Mr. Baatarsaikhan Tsagaach, Chief Executive Officer of Gobi JSC.

“The EBRD is pleased to support Gobi JSC, the largest integrated cashmere and camel wool processor in Mongolia, in their on-going expansion. This new investment confirms and strengthens EBRD's commitment to Mongolia's private SME sector. We anticipate that with the help of EBRD's financing, the company will be able to increase its knitting and linking capacity and also improve its product quality and productivity.” said Philip ter Woort, Head of the European Bank for Reconstruction and Development - EBRD's Resident Office in Mongolia.

The project will enhance Gobi's competitiveness on both local and international markets. Cashmere processing is the second largest currency earner for the country after mining and is an important traditional sector where Mongolia can genuinely compete at international level and achieve diversification away from the resource economy.

Since the beginning of its operations in Mongolia in 2006, the EBRD has committed through debt and equity investments more than US$ 465 million to the Mongolian private sector through 41 projects in sectors ranging from banking to manufacturing and from mining to agribusiness.

European Bank for Reconstruction and Development

Must ReadView All

Apparel/Garments | On 24th Mar 2017

Tiruppur garment cluster hopeful of meeting export target

The Tirupur garment cluster is hopeful of meeting its target of...

Apparel/Garments | On 24th Mar 2017

HKTDC hosts seminar on accessing retail market in India

The Hong Kong Trade Development Council (HKTDC) organised a seminar...

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search