Home / Knowledge / News / Apparel/Garments / Higson to open textile garments factory in Serbia
Higson to open textile garments factory in Serbia
18
May '12
Nebojsa Ciric, Minister of Economy and Regional Development and Franz Koller, CEO of Higson Group (HG) Franz Koller signed the Memorandum of understanding regarding the intent of this German company to launch production in Serbia and invest €4 million.

After the signing of the memorandum, Ciric said that HG plans to start production in the municipality of Zitoradja, in the former factory "Amer Prom", and to employ about 500 workers in the first year of operations and a further 1,000 to 1,500 workers over the next two years.

This investment should start to be implemented in June or July, the Minister said and added that this company specialises in design, production and distribution of textile garments and is best known for its sportswear brand "Iguana".

The Minister underlined that it is very important that HG will open a factory in Zitoradja, which is an underdeveloped area with a high unemployment rate.

In the first phase the company will invest €1 million in high-tech machines, while the second phase will cost an additional €750,000.

Ciric explained that the products will be exported to the EU, Russia and other countries with which Serbia has agreements on free trade, noting that it is good that one more investor in the textile sector is arriving in Serbia.

He recalled that Serbia was the leader in attracting investments in 2011 and that the same trend continues in 2012, which shows the great importance of the Serbian government's strategy for attracting investments.

HG, whose annual turnover is $60 million, exports three million pieces of finished products from its factories in Indonesia and Myanmar every year. It plans to move about 10-15% of its production capacity from Asia to Serbia.

Serbian Government


Must ReadView All

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

Trade & consumers want MDR free digital payments: CAIT

Apparel/Garments | On 12th Dec 2017

Trade & consumers want MDR free digital payments: CAIT

Transaction charges like the merchant discount rate (MDR) applicable...

Interviews View All

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Kevin Nelson
TissueGen

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Mike Hoffman
Gildan Activewear SRL

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

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search