South Africa : DTI-led task team to establish new venture for Frame Textile unit

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DTI-led task team to establish new venture for Frame Textile unit

27
May '09

The Minister of Trade and Industry (the dti), Dr Rob Davies, and Minister of Economic Development, Ebrahim Patel, met earlier with manufacturing stakeholders, including the CEO of Seardel, leadership of the Southern African Clothing and Textile Workers Union (Sactwu), the Industrial Development Corporation (IDC), National Empowerment Fund (NEF) and members of the dti, as part of a process aimed at avoiding the loss of strategic industrial capacity and employment associated with the Frame Vertical Pipeline (FVP).

The meeting was briefed on progress made in respect of the establishment of a new venture which may take up assets of the FVP, in order to ensure the retention of strategic textile production capabilities, the maintenance of supply to customers, and employment and economic activity in a region of the country with high levels of unemployment.

Seardel, the IDC and NEF expressed a commitment to work urgently and intensively - as part of a dti-led task team - towards the rapid development of a viable investment plan.

Further information on progress made in this regard, will be communicated in due course.

Minister of Trade and Industry

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