Home / Knowledge / News / Textiles / Taiwan's Makalot to invest in Vietnamese textile sector
Taiwan's Makalot to invest in Vietnamese textile sector
04
Oct '13
Taiwan-based Makalot Industrial Co. is planning to invest US$ 8.99 million in Vietnamese textile sector as a part of its strategy to take advantage of the US’ zero-tariff policy under the Trans-Pacific Partnership (TPP) agreement, expected to be signed later this year.
 
Makalot would invest US$ 4.49 million to acquire a 50 percent stake in Namtex Co. Ltd, a subsidiary of yarn maker Tainan Spinning Co., and the remaining amount would be used to recapitalize the Vietnamese unit to US$22 million in 2017 from US$11 million this year, Taipei Times reported.
 
The acquisition of 50 percent shares of Namtex would increase yarn supplies for Makalot’s apparel production, while broadening its production base in Southeast Asia.
 
Moreover, the vertical integrations would also help the company to benefit from the TPP agreement, of which Vietnam is likely to become a member, Frank Chou, Makalot chairman told newsmen.
 
The TPP agreement, which is currently in final stages of negotiation, is expected to give zero tariffs to textile and apparel companies on the basis of yarn-forward principle, which means clothing companies would have to produce from yarn till the final apparel only in TPP countries to avail the zero-tariff benefit.
 
Makalot’s investment will increase Namtex’s capacity from the current 700,000-800,000 kg to 1.1-1.2 million kg by 2015.
 
Makalot is one of the leading apparel manufacturing companies in Taiwan, which supplies its products to major retailers across the US, Europe, Japan, Taiwan and China.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 20th Sep 2017

India needs to double cotton farmers’ income: top official

India needs to double the income of cotton farmers and non-farmers...

Textiles | On 20th Sep 2017

Pakistan seeks more JVs with China: textile minister

The Pakistani Government wants to forge more joint ventures (JVs)...

Apparel/Garments | On 20th Sep 2017

Egypt’s garment exports touch $941 million in 8 months

Egypt's garment exports touched $941 million in the first eight...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Mike Hoffman
Gildan Activewear SRL

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

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

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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