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New textile facility opens in Gia Lam
26 Oct '07
2 min read
On the occasion of 33rd anniversary, October 9, the 10/10 Textile Joint Stock Company launched its new textile plant in Gia Lam district, in Hanoi.
The new facility was built with an investment of VND 120 billion or Euro 5.5 million, which includes one warp-knitting workshop. Here, 40 German made knitting machines have been installed with an expenditure of Euro 5.5 million and Euro 500 thousand were used for 10 fibre wrap–knitting machines.
The company plans to produce fabric for its own garment output as well as supply to other local apparel companies. This warp–knitting line operates at a speed of 2500 circles per minute.
Around 180 local laborers have been employed in this factory, which aims to generate VND 200 billion or US $12.5 million turnover each year.
This plant is a joint venture by Vestergaard Frandsen, a Denmark Company, which contributed Euro 5 millions in this project.
10/10 Textile Company specializes in warp-knitting synthetic fibre and produces various products like tulle, net, curtains, mosquito net and knitting fabrics for local market.
In the first three quarter, the company earned revenue of around $64 million, accounting for 73.56 percent of its total target this year showing a rise of 8.28 percent from same period previous year.
Company has set target of $87.5 million for the domestic market and $85 million from exports in 2007.
The new facility was built with an investment of VND 120 billion or Euro 5.5 million, which includes one warp-knitting workshop. Here, 40 German made knitting machines have been installed with an expenditure of Euro 5.5 million and Euro 500 thousand were used for 10 fibre wrap–knitting machines.
The company plans to produce fabric for its own garment output as well as supply to other local apparel companies. This warp–knitting line operates at a speed of 2500 circles per minute.
Around 180 local laborers have been employed in this factory, which aims to generate VND 200 billion or US $12.5 million turnover each year.
This plant is a joint venture by Vestergaard Frandsen, a Denmark Company, which contributed Euro 5 millions in this project.
10/10 Textile Company specializes in warp-knitting synthetic fibre and produces various products like tulle, net, curtains, mosquito net and knitting fabrics for local market.
In the first three quarter, the company earned revenue of around $64 million, accounting for 73.56 percent of its total target this year showing a rise of 8.28 percent from same period previous year.
Company has set target of $87.5 million for the domestic market and $85 million from exports in 2007.
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