Home / Knowledge / News / Apparel/Garments / Higson to open textile garments factory in Serbia

Higson to open textile garments factory in Serbia

18
May '12
Nebojsa Ciric, Minister of Economy and Regional Development and Franz Koller, CEO of Higson Group (HG) Franz Koller signed the Memorandum of understanding regarding the intent of this German company to launch production in Serbia and invest €4 million.

After the signing of the memorandum, Ciric said that HG plans to start production in the municipality of Zitoradja, in the former factory "Amer Prom", and to employ about 500 workers in the first year of operations and a further 1,000 to 1,500 workers over the next two years.

This investment should start to be implemented in June or July, the Minister said and added that this company specialises in design, production and distribution of textile garments and is best known for its sportswear brand "Iguana".

The Minister underlined that it is very important that HG will open a factory in Zitoradja, which is an underdeveloped area with a high unemployment rate.

In the first phase the company will invest €1 million in high-tech machines, while the second phase will cost an additional €750,000.

Ciric explained that the products will be exported to the EU, Russia and other countries with which Serbia has agreements on free trade, noting that it is good that one more investor in the textile sector is arriving in Serbia.

He recalled that Serbia was the leader in attracting investments in 2011 and that the same trend continues in 2012, which shows the great importance of the Serbian government's strategy for attracting investments.

HG, whose annual turnover is $60 million, exports three million pieces of finished products from its factories in Indonesia and Myanmar every year. It plans to move about 10-15% of its production capacity from Asia to Serbia.

Serbian Government


Must ReadView All

Pic: Shutterstock

Textiles | On 12th May 2021

Economic recovery under threat amid surging COVID cases: UN

While the global growth outlook has improved, led by robust rebound...

Pic: 2p2play / Shutterstock.com

Retail | On 12th May 2021

Retailers need to consider changes as US emerges from pandemic: NPD

Millions of new remote and hybrid-remote workers, kids returning to...

Pic: Shutterstock

Textiles | On 12th May 2021

Uzbekistan exported textile products worth $637.7 million in Q1 2021

Uzbekistan exported textile products worth $637.7 million to 54...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Tech in fashion industry has hit acceleration button

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Textile Industry, Head honchos

Textile Industry
Head honchos

Estimate loss of $8-$10 billion in turnover

Vikram Juneja,

Vikram Juneja

Jaquard is a training institute providing a highly specialised training...

Nina Smith,

Nina Smith

GoodWeave International, a nonprofit working to end child, forced and...

Nantas Montonati,

Nantas Montonati

The Riri Group is a one-stop supplier of metal accessories for the luxury...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

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

Leave your Comments


May 2021

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


Advanced Search