Home / Knowledge / News / Textiles / South Korean group starts spinning mill in Costa Rica
South Korean group starts spinning mill in Costa Rica
27
Apr '15
SAE-A Spinning, a South Korean company began operations of its spinning plant in Cartago province, Costa Rica at an investment of around $55 million.

The new SAE-A plant will employ 270 workers and produce cotton yarn meant for export, primarily to countries in North and South America.

“SAE-A Spinning is a subsidiary of Seoul-based SAE-A Trading Co., a company which has 41 operations in 10 countries and employs around 60,000 employees,” Costa Rican media reported.

The group turnover stood at over $2 billion in 2014, with around $1.5 billion accounted for by exports to various countries.

President of Costa Rica Luis Guillermo Solís who attended the inauguration said that the new facility will strengthen efforts to create economic prosperity and more jobs.

SAE-A Spinning’s CEO Woong-Ki Kim was of the opinion that the plant would create additional opportunities for new and existing businesses in Costa Rica.

“We have a staunch commitment for Costa Rica and we expect a steady growth in the future,” Kim said.

The opening of the South Korean plant follows the announcement by Canadian brand Gildan Activewear to set up a plant in the province of Guanacaste.

According to media reports, once operational, the Gildan Activewear plant is expected to generate employment opportunities for approximately 1,000 people. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Charge 1p per garment to tackle fast fashion: British MPs

Apparel/Garments | On 21st Feb 2019

Charge 1p per garment to tackle fast fashion: British MPs

A panel of British parliament members cutting across party lines...

Chinese textile city to harm Egypt's domestic industry

Textiles | On 21st Feb 2019

Chinese textile city to harm Egypt's domestic industry

Setting up of a Chinese textile city in Egypt will severely harm the...

India-Pak cotton trade may not be hit by import duty hike

Textiles | On 21st Feb 2019

India-Pak cotton trade may not be hit by import duty hike

India’s export of ginned cotton and cotton yarn to Pakistan may...

Interviews View All

Smith Vaghasia, Sanado India

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Jim Desai, Blaiva Fabricaa

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Sonia Agarwal, Whitenife

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Will Qian,

Will Qian

Honghua Digital Technology Stock Co., Ltd. specialises in the R&D,...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

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


February 2019

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

news category


Related Categories:

Advanced Search