West Point sets up integrated textile mill in Lahore
21 Feb '07
1 min read
West Point Home Inc, a premier textile company of US, has established integrated textile mill in Lahore on a 100 acres plot.
Textile mill has been set up in partnership with Indus Dyeing for exporting top-quality towels which can generate income of US $80 to $90 million per year.
Indus Dyeing, a Pakistani business group, was also seeking for an American partner that can help them to enter US market.
Even though US imposes 8 to 16 percent import duty on home textiles, company is confident of making good profit from this partnership.
In order to tackle import duty, West Point has acquired Bahrain based company in Panama as textile products are imported at zero rates from the region.
American company is also negotiating with textile units in Lahore, Karachi and Faisalabad for outsoaring bed sheet business in partnership.
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