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

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Jurgen Gauger
Spreadshirt

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

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Sonam & Paras Modi
SVA

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

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:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X