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Golden Son sets up garment accessories unit
23
Oct '08
Chittagong-based Golden Son, a major engineering company, has collaborated with Taiwanese Group to establish a garment accessories manufacturing plant.

Sources from the Company confirmed the news to Fibre2fashion and said, "This step is part of a plan to expand business into the import-dominated market."

Official informed that while Golden Son will have a 60 percent share in the profit or loss basis JV, the rest will be with the Taiwanese Company.

Sources said that the total investment in the project comes upto Taka200 million and the garment accessories division has already kicked off.

Reportedly, this unit manufactures fabric belt, elastic, ribbon and twill tape that the ready-made garment producers import from other countries.

It is learned that the plant is not only attracting orders from local companies but also from countries like India and some other neighboring nations.

Insiders reveal that Golden Son is already planning to expand further by preparing for new project. Some of the needed machinery has been imported but still the required furhter investment.

The Investment Corporation of Bangladesh has recently granted loan worth Taka30 million to meet a portion of the Company's investment requirement.

Fibre2fashion News Desk - India

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