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South Korean Samil Spinning acquires Buhler Quality Yarns
23
Mar '17
South Korean yarn producer Samil Spinning has acquired US based Buhler Quality Yarns through a stock purchase agreement. The deal was facilitated through the Korea Trade Investment Promotion Agency (KOTRA). Among various benefits of the deal, Samil Spinning will enjoy a 32 percent tax benefit for producing textiles, using yarn produced in the US.

Samil will also benefit from the Dominican Republic-Central America FTA (CAFTA-DR), a free trade agreement between United States and Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic.

"Under the trade deal, any garment produced from US yarn in member countries of the CAFTA-DR are treated as equal when it comes to exporting within the specified region," South Korean media reported. (AR)

Fibre2Fashion News Desk – India


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