Home / Knowledge / News / Textiles / Nakoda announces acquisition in South Korea
Nakoda announces acquisition in South Korea
03
Jul '10
A leading fully drawn yarn (FDY) maker, 'Nakoda Textile' has acquired South Korea-based polyester yarn making unit. Along with acquisition cost, it will invest around $40 million i.e. Rs 1.85 billion in the plant at Kyunghan in South Korea, said the Chairman and Managing Director of the company, BG Jain.

He further added that, the company has got access to new geographies through this acquisition. Only plant and machinery has been purchased, while land and buildings are leased out, he said. Finances for the acquisition will be done through internal accruals and debt.

The plant is positioned in South Korean industrial hub of synthetic fibre manufacturing, linked with Seoul and Busan, a third-busiest port in the world. The plant of 'Nakoda Textile' in India is situated at Surat in the state of Gujarat.

Fibre2Fashion News Desk - India

Must ReadView All

Textiles | On 27th Apr 2017

UL joins ZDHC programme

UL Consumer & Retail Services (CRS), a global safety science company, ...

Textiles | On 27th Apr 2017

Maharashtra govt working on second textiles policy

The textiles department of the government of Maharashtra is working...

Apparel/Garments | On 27th Apr 2017

EC takes action to make garment sector more sustainable

The European Commission (EC) has presented a set of focused actions...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Johan Berlin
InvestKonsult Sweden AB

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

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...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


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



X