Home / Knowledge / News / Textiles / South Korean firm to set up textile plant in Costa Rica
South Korean firm to set up textile plant in Costa Rica
18
Jun '14
South Korean company SAE-A Spinning is setting up a cotton yarn manufacturing plant in Costa Rican province of Cartago, the Costa Rican Investment Promotion Agency (CINDE) has announced, reports The Tico Times.
 
The new venture to come up at a cost of US$ 50 million will create 200 new direct jobs for local workers, CINDE said in a press release.
 
SAE-A Spinning has already begun construction work in Coris, west of Cartago, some 22 kilometers east from the capital San José.
 
Once fully operational by the first quarter of 2015, the Costa Rican plant will export cotton yarn to clothing factories in several countries in the Americas, CINDE said.
 
SAE-A Spinning president Kwang Ho Yoo said the investment in Costa Rica is part of the company’s long-term vision with a growth plan for the next 30 years. Ho Yoo added that the company will consider expanding operations with a second investment in Costa Rica if the textile plant becomes profitable and achieves expected success.
 
The announcement by the Korean company to invest in Costa Rican textile sector has come less than two months after the Canadian company Gildan Activewear confirmed that its next investment will be made in Guanacaste, Costa Rica, involving a modern textile manufacturing plant.
 
The announcement by the two companies in recent months to invest in Costa Rica is a proof that Costa Rica offers suitable conditions to host businesses in the textile industry, said CINDE’s General Director Gabriela Llobet.
 
Being part of CAFTA-DR, Costa Rica enjoys privileged access to the US market, which is one of the reasons that attract companies to invest in the country.
 
SAE-A Spinning currently has 17 subsidiaries in the US, Guatemala, Nicaragua, Haiti, Vietnam, Indonesia and Cambodia, and last year the company grossed global sales revenue of more than $1.4 billion.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 20th Aug 2017

PetroVietnam, Vinatex discuss reviving PVTEX plant

Discussions are under way between PetroVietnam and textile and...

Courtesy: Mexx

Fashion | On 20th Aug 2017

RNF acquires Mexx fashion brand

RNF, the Dutch sports and fashion holding, has purchased the global...

Textiles | On 20th Aug 2017

Intertextile Shanghai Home Textiles opens on August 23

Intertextile Shanghai Home Textiles, Asia’s leading platform to meet...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Johan Berlin
InvestKonsult Sweden AB

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

August 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
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

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
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

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
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

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
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


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