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Angolan firm enters exports, sends cotton yarn to Portugal
16 Oct '17
1 min read
Angolan textile firm Alassola entered the exports business recently by sending its first 15 containers containing 156 tonnes of cotton yarn to Portugal, company chairman Tambwe Mukaz said in Lobito. He said such exports to Portugal will allow the company to overcome the lack of foreign currency in Angola and to import raw material and continue production.
It is for the first time since Angola got independence from Portugal that the country has exported textile products to its former colonial master. More such yarn shipments will be sent soon, according to a report on a website dedicated to developing trade ties between China and the Portuguese-speaking world.
Based in the municipality of Benguela in Angola’s central coastal region, Alassola took over the Africa Textil factory, which was inaugurated in 1979 and went bankrupt in 2000. It recovered after a five-year long modernisation process with an investment of $450 million. (DS)
It is for the first time since Angola got independence from Portugal that the country has exported textile products to its former colonial master. More such yarn shipments will be sent soon, according to a report on a website dedicated to developing trade ties between China and the Portuguese-speaking world.
Based in the municipality of Benguela in Angola’s central coastal region, Alassola took over the Africa Textil factory, which was inaugurated in 1979 and went bankrupt in 2000. It recovered after a five-year long modernisation process with an investment of $450 million. (DS)
Fibre2Fashion News Desk – India
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