News Tags

Related Keywords: business to be owned, company that can create, employees, enable business to thrive, entered into a definitive agreement, greatest value for customers, Invista apparel business, knowledge and capability, portfolio, sell Invista Apparel & Advanced Textiles, Shandong Ruyi Investment Holding, stockholders, strategic and valued part, succeed

Invista’s apparel business has always been a strategic and valued part of their portfolio and they want this business to be owned by the company that can create the greatest value for customers, employees and stockholders. In this case, they believe that Shandong Ruyi Investment Holding has the knowledge and capability that will enable this business to thrive the most and succeed over the long term, said Jeff Gentry, Invista chairman and CEO.

Related Keywords: apparel, bedding and linens this fall, businessman, Ed Cagle, employees, ever in Bledsoe County, factory building in Pikeville, increase the staff to thousand, make biggest private investment, owned by Chattanooga developer, plans to start production, Textile Corp of America, to buy and upgrade

Textile Corp. of America announced Monday it will make the biggest private investment ever in Bledsoe County, spending $27.1 million to buy and upgrade the vacant 186,000-square-foot factory building in Pikeville.

The new company, which is owned by Chattanooga developer and businessman Ed Cagle, plans to start production of apparel, bedding and linens this fall. Officials said that they hope to quickly increase the staff to 1,000 employees and begin hiring and training workers in the next month or so.

Related Keywords: decline in number of operations, due to labour shortage, employees, growth in competition, imports increased, Korean International Trade Association, major growth driver, most from China, relocating in China and Vietnam, rising cost, South Korea textile and clothing industry, textile and clothing exports, trade deficit

South Korea’s textile and clothing imports touch $14.66 billion mark, an increase by 8.4 percent in 2014 of which 45 percent of these imports (valued at $6.59 billion) came from China, according to figures released Tuesday by the Korean International Trade Association.

The country could soon post a trade deficit in an industry that used to be a major growth driver for its economy.

The country’s textile and clothing exports decreased last year by 0.1 percent to $15.94 billion, narrowing the industry’s surplus by $1.28 billion, about 50 percent less than the surplus amount in 2013.