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Bolivian govt buys five factories of Ametex
28 Dec '13
1 min read
Bolivian President Evo Morales has signed an executive order for the purchase of five factories of Americal Textil SA (Ametex) for 104 million bolivianos by the state-run National Public Textile Enterprise (Enatex).
“Minister for Production Teresa Morales told me that we’re still paying rent of five factories totaling US$ 42,000 and then we decided why not buy all the factories,” the President said in a massive rally in the Enatex factory, located in the commercial district of Villa Fatima in La Paz, a statement from the Office of the Presidency said.
The President explained that the assets of Ametex were purchased from the resources of the General Treasury of the nation. He said the Government-run Enatex would soon start exporting to international market.
The five factories bought from Ametex will now be Enatex, the President said.
He expressed hope that Enatex would be productive and earn foreign exchange for the country.
Enatex was formed in June 2012 to safeguard the Bolivian textile industry in view of the imminent bankruptcy of the defunct Ametex.
In less than 18 months of its operation, the company has already exported garments to Uruguay, Mexico and Brazil.
Fibre2fashion News Desk - India
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