Bangladesh Textile & Yarn Producers Make Expansion Plans
There are about 300 yarn spinning factories in Bangladesh, with an annual yarn production of 9,000kt. Local spinners were confronted with losses and cumulating stocks two months ago due to an influx of India-origin yarn, which was 20% cheaper than domestic product. However, the situation changed in the past 6 weeks…
Egytex News Desk
Source: CCFGroup.com
Maksons Group's sister company planned to establish an export-oriented comprehensive textile enterprise. The company is expected to start commercial operation in Sep 2010 and it will use yarn to produce 8.7 million yards of finished fabric.
Experts said that Bangladesh's garment exports will recover rapidly in 2008/09 fiscal year since the main competitive countries, including China, have lost competitiveness due to their higher labor costs.
Source: CCFGroup.com
From the Egytex news archive, first published on 2 June 2009. Figures and names are as reported at the time.
