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Hellenic Fabrics seeks foreign funds

09
Mar '12
Hellenic Fabrics SA, Greece's only denim producing company and one of Europe's leading denim manufacturers, is seeking new sources of funding to support its working capital as well as to meet financial needs for its development strategy.

The Thessaloniki-based company has turned to potential new investors also from abroad in view of the current unstable economic environment in Greece.

According to Hellenic Fabrics, one of the contacts has shown interest for investing in the company in the form of participation in a future share capital increase.

Hellenic is continuing negotiations with the potential investor, which is represented in Greece by LEAD Finance, in order to have a positive outcome as soon as possible, the company said.

Hellenic Fabrics SA is 100 percent vertically integrated firm with, unique, direct access to own, excellent quality, Greek cotton.

The company is known for the quality and innovations of its denim fabrics. More than 80 percent of Hellenic's sales turnover is in the form of exports, mainly to globally well-known jeans manufacturers.

Fibre2fashion News Desk - India


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