Mar '10
”The divestment of operations in Norway is regrettable but is simultaneously essential to our efforts to ensure that the New Hemtex takes shape. Hemtex is implementing a renewal program aimed at achieving a more distinct direction in the form of a new store concept and a more up-to-date range. The decision about Norway means that the process involving the Group's international strategy has now been completed,” says Erik Gumabon, Hemtex's President and Chief Executive Officer.
A responsible divestment of the store portfolio entails that Hemtex will fulfill all concluded agreements and live up to the rigorous demands of an employee in terms of providing
information, as well as obligations in relation to employees and partners. Negotiations regarding leases for premises will be initiated immediately and the impending divestment will be implemented as this process progresses.
Hemtex has a total of ten stores in Norway, with 75 employees. The loss incurred in Norway in 2009 amounted to SEK 32 M.
Hemtex AB
Must ReadView All
Textiles | On 18th Oct 2017
Sutlej Textiles adds American Silk Mills to its portfolio
Sutlej Textiles and Industries Ltd (STIL) has announced the...
Apparel/Garments | On 18th Oct 2017
Arvind to set up mega apparel facility in Gujarat
Arvind Limited, one of India’s largest textile to retail...
Textiles | On 18th Oct 2017
Cotton stocks accumulating everywhere outside of China
Global cotton stocks outside of China are expected to rise by nearly...
Interviews View All
Shawn Honeycutt
Bolger & O'Hearn
‘The Indian market is interesting and rather persistent in seeking new...
Sanjay Desai & Ashish Mulani
True Colors
Digital textile printing will be the technology of the future
Shiladitya K Joshi
Truetzschler India Private Limited
India ITME provides a platform to interact with our stakeholders
Oswal Prints Private Limited has been manufacturing and exporting ethnic...
Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...
Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...
Larry L Kinn
Suominen Corporation
Larry L Kinn, Senior Vice President - Operations Americas of Suominen...
Lynda Kelly
Suominen Corporation
Suominen Corporation is a manufacturer of nonwovens as roll goods for...
Marcel Alberts
Eurofibers
Coating at a fibre level is a practice not usually seen in the...
Igor Chapurin
Chapurin
"Now we can see the Russian trend in international fashion. And Russian...
Karan Arora
Karan Arora
Bridal couture created with rich Indian heritage, exquisite craftsmanship...
Madhu Jain
Madhu Jain
She grew up in the walled city of Old Delhi, completed her studies, and...
Recommended
news category
Related Categories:
Do you think the sustainability space has the needed tools and resources available for a business to lead change?
Yes No SkipActive Poll
Do you see sustainability as a route to business growth?
YesTotal Votes: 66
Do you think adopting a sustainable approach will be a profitable move for your business?
Yes No SkipActive Poll
Do you think the sustainability space has the needed tools and resources available for a business to lead change?
YesTotal Votes: 66
Do you want the world to know about your sustainability journey and your business’ environmental footprint?
Yes No SkipActive Poll
Do you think adopting a sustainable approach will be a profitable move for your business?
YesTotal Votes: 66
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?
YesTotal Votes: 66
E-News Insight
Latest News Update in Your Mail Box.
