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Textiles Fabricato to boost its global presence
01
Oct '11
Textiles Fabicato Tejicóndor S.A, the largest textile manufacturer in Colombia, is set to boost its global presence after acquisition of 19.9 percent of its stake by fund management firm Global Emerging Markets (GEM).

With offices in Paris, New York and Hong Kong, GEM's investments are spread across 65 countries in 5 continents. GEM manages US$ 3.4 billion in developing countries and has recently shown interest in textile companies, including the Italian clothing company Ciesse Piumini.

Textiles Fabricato will be able to consolidate its presence outside Colombia after partnering with GEM.

In recent quarters, the Medellin-based textile company has registered positive figures and is expecting its revenue to grow by around 15 percent this year compared to its last year's sales of US$ 309 million.

Fibre2fashion News Desk - India

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