Phong Phu Corporation has directed its subsidiaries to focus on raising their production capacities to meet its textile development strategy...
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| A 40,000 spindle textile plant in Vinh Phuong Commune, Nha Trang City, was put into operation in April 2012. |
Phong Phu Corporation has directed its subsidiaries to focus on raising production capacities to meet its textile development strategy in the central region.
Nha Trang Textile & Garment Joint Stock Company (Nhatrangtex) put a new 40,000 spindle textile plant into operation in April 2012. The plant has supplied textile companies with high quality products.
Vu Duc Giang, Chairman of the Vietnam Textile and Apparent Association (Vitas) and Chairman of the Vietnam National Textile and Garment Group (Vinatex) says in the first 4 months, in spite of international and domestic economic difficulties, Vietnam textile and garment has exported nearly USD6 billion, a year-on-year increase of 17%.
Phong Phu Corporation is a leading enterprise of Vietnam Textile Group. The enterprise is the largest shareholder of Nhatrangtex.
In addition, Phong Phu Corporation is trying to build Nhatrangtex to become a leading textile enterprise in the region with the plan to establish a knitwear center in the locality.
Pham Xuan Trinh, Vice General Director of Phong Phu Corporation says, “We are making effort to build Nha Trang into a textile and garment center”.
According to Le Ngoc Hoan, General Director of Nhatrangtex, built in early March 2011, the 40,000 spindle textile plant located in Vinh Phuong Commune, Nha Trang City, was put into operation in April 2012.
The 40,000 spindle textile has the total investment is VND328 billion, of which 70 % is invested in machinery, equipment and modern technology.
The plant has contributed to raising the total yarn output of Nhatrangtex to 17,200 tons with additional turnover of VND300 billion/ year creating jobs for over 300 people.
This project is part of the strategy of the Nhatrangtex and Phong Phu Textile Joint Stock Company.
In the 1st quarter of 2012, the total turnover of Nhatrangtex reached over VND241 billion, a year-on-year increase of 25.4% with an export turn-over of USD 2.54 million.
N.T
