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Textile News

ITG Explores Vietnam Opportunities

International Textile Group Inc. (ITG), Greensboro, N.C., and Vietnam National Textile Garment Corp. (Vinatex), Vietnam, have agreed to enter into discussions related to mutual business interests. Vinatex comprises 57 member companies having a combined annual industrial production totaling approximately $594 million and a gross export value of more than $1 billion.

"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," said Wilbur L. Ross, chairman, ITG. "We will also consider opportunities to invest in new and existing Vinatex facilities," he added.

July/August 2005




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