US based International Textile Group Inc announced that it has entered into an agreement with Vietnam's Vinatex to begin confidential discussions to explore a full range of mutual business interests.
Wilbur L. Ross, chairman of ITG, said, "We anticipate our discussions with Vinatex to be quite broad in scope and range from commercial and technical agreements encompassing global sales and services to more specific issues such as managing selected manufacturing plants in Vietnam. We will also consider opportunities to invest in new and existing Vinatex facilities."
Headquartered in Hanoi, Vietnam, Vinatex's assets total VND12,000 billion (US $757 million). Its 57 member enterprises have annually turned out a combined industrial production value of VND9,426 billion, and grossed an export value of over US$1 billion.
International Textile Group was organized in March, 2004 by WL Ross & Co. LLC to acquire Burlington Industries and Cone Mills. ITG is a diverse, innovative provider of global textile solutions and distinguished market brands to apparel and interior furnishings customers worldwide. ITG operates five business units: Cone Denim, Burlington WorldWide, Interior Fabrics, Carlisle Finishing and Nano-Tex.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
