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Hanosimex to be reorganized as a corporation

08
Feb '07
Ministry of Industry announced on Tuesday that the Hanoi Textile and Garment Company Hanosimex will be reorganized as a corporation to boost its textile business.

The new corporation will invest of VND151.7 billion (US$9.5 million), include 11 subsidiaries,and participate in joint ventures.

Hanosimex, a member of the Viet Nam Textile and Garment Group (VINATEX) is one of the leading garment makers in the northern region of the country.

Company is planning to introduce its trademark in the international market.

Hanosimex Company has received a second-class medal from the Government for its contribution to society.

Last year Hanosimex had earned a total revenue of VND1.7 trillion ($107 million), double the level of 2001. Profits of the company has reached VND13.5 billion ($843,750), showing an average growth over 20 percent each year.

Another company the Phong Phu Corporation becomes the second-highest profit earner in VINATEX, will also be reorganized under the ministry decision.


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