Home / Knowledge / News / Textiles / South Korean group starts spinning mill in Costa Rica
South Korean group starts spinning mill in Costa Rica
27
Apr '15
SAE-A Spinning, a South Korean company began operations of its spinning plant in Cartago province, Costa Rica at an investment of around $55 million.

The new SAE-A plant will employ 270 workers and produce cotton yarn meant for export, primarily to countries in North and South America.

“SAE-A Spinning is a subsidiary of Seoul-based SAE-A Trading Co., a company which has 41 operations in 10 countries and employs around 60,000 employees,” Costa Rican media reported.

The group turnover stood at over $2 billion in 2014, with around $1.5 billion accounted for by exports to various countries.

President of Costa Rica Luis Guillermo Solís who attended the inauguration said that the new facility will strengthen efforts to create economic prosperity and more jobs.

SAE-A Spinning’s CEO Woong-Ki Kim was of the opinion that the plant would create additional opportunities for new and existing businesses in Costa Rica.

“We have a staunch commitment for Costa Rica and we expect a steady growth in the future,” Kim said.

The opening of the South Korean plant follows the announcement by Canadian brand Gildan Activewear to set up a plant in the province of Guanacaste.

According to media reports, once operational, the Gildan Activewear plant is expected to generate employment opportunities for approximately 1,000 people. (AR)

Fibre2fashion News Desk - India


Must ReadView All

India mulls new schemes for jobs, textile clusters

Apparel/Garments | On 25th Apr 2018

India mulls new schemes for jobs, textile clusters

India is mulling over alternative schemes for jobs and manufacturing...

Kraig gets approval for Vietnamese subsidiary firm

Textiles | On 25th Apr 2018

Kraig gets approval for Vietnamese subsidiary firm

Kraig Biocraft Laboratories, Inc., the leading developer of spider...

Courtesy: ITMA Asia

Textiles | On 25th Apr 2018

ITMA Asia + CITME 2018 attract global textile companies

The sixth edition of ITMA ASIA + CITME 2018 has received strong...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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