South Korean apparel manufacturer Hansae Co. will construct a second factory in Myanmar as it moves to secure global competitiveness in the face of a strong local currency and a rise in raw material prices. The company, which makes clothes for many top global brands like Nike and GAP, said it is currently looking for a factory site in the country.
No further details, including investment size and specific timelines, were revealed by the company, according to a South Korean news agency report.South Korean apparel manufacturer Hansae Co. will construct a second factory in Myanmar as it moves to secure global competitiveness in the face of a strong local currency and a rise in raw material prices. The company, which makes clothes for many top global brands like Nike and GAP, said it is currently looking for a factory site in the country.#
Founded in 1982, Hansae has 17 corporations in six countries -- Vietnam, Nicaragua, Guatemala, Indonesia, Myanmar and Haiti. (DS)
Fibre2Fashion News Desk – India
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