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Denim leader Tavex invests in NA Denim market

06
Jun '07
Tavex Group, world leader in Denim, has informed completion of assets acquisition in Mexico, which should increase the company's manufacturing capacity in the country to 30 million meters including Denim and Workwear fabrics.

According to Herbert Schmid, Tavex Group CEO, this investment represents in Denim the continuity of the strategy of consolidating world leadership in the differentiated Denim fabrics industry, positioning the company definitively in the U.S. market.

Tavex Group, based in Madrid, already owns manufacturing facilities in the city of Puebla in México, and is working to expand its capacity through the acquisition of assets buildings, facilities, and machinery from the Mexican company Acabados y Cortes Textiles, S.A. de C.V, (ACOTEX).

Such assets include two production plants in the cities of Puebla and Tlaxcala, Mexico. According to Schmid, with the agreement, the aforementioned assets and management will become full and exclusive responsibility of the Tavex Group and its Board of Directors, without any participation of the former owner, controllers or managers of the Mexican company.

The marketing and sales area will be the responsibility of Jake Fraser, Tavex Director for North and Central America.

"Our objective with this investment is to increase Denim production in the differentiated products segment (Authentic and Premium lines) in North America," comments Herbert Schmid.

As partof this strategy, in July, Tavex will open a Service Center in New York to meet the demand of current and future clients.

Tavex Algodonera SA


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