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Textile recovery to boost local manufacturers
14 Sep '06
1 min read
Expected recovery of clothing and textile industry will allow the local manufacturers (including fibre producers to knitting and apparel) to profit from it, informed the Industrial Development Corporation (IDC).
Gert Gouws, the Chief Financial Officer of IDC said that corporation was helping the resurrection of the industry via investment and retention of jobs even as retailers severely criticized the Government move to downsize imports especially from China.
Gouws informed a committee of Parliament on economic and foreign affairs that IDC had been able to save more than 561 jobs in the textile sector.
The revival will also benefit Fibermill, manufacturers of woven polyester fabric for local and international users.
IDC has also invested R45m in Herdmans which has helped in the retention of 95 jobs after the withdrawal of Irish investors following losses incurred due to the flood of textile products from China.
IDC sees many possibilities in this sector, in which it has invested R550m, informed Gouws.
Gert Gouws, the Chief Financial Officer of IDC said that corporation was helping the resurrection of the industry via investment and retention of jobs even as retailers severely criticized the Government move to downsize imports especially from China.
Gouws informed a committee of Parliament on economic and foreign affairs that IDC had been able to save more than 561 jobs in the textile sector.
The revival will also benefit Fibermill, manufacturers of woven polyester fabric for local and international users.
IDC has also invested R45m in Herdmans which has helped in the retention of 95 jobs after the withdrawal of Irish investors following losses incurred due to the flood of textile products from China.
IDC sees many possibilities in this sector, in which it has invested R550m, informed Gouws.
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