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Related Keywords: automotive, CoreTech, fibers, Filidea, furniture, GmbH, Hoftex, Italy, natural, Neutex, sewing, synthetic, technical yarns

The italian Company Filidea s.r.l., specialized in technical and performing products made out of natural, synthetic and artificial fibers, announces the acquisition of Hoftex CoreTech GmbH from the German group Hoftex.

The agreement was signed on May 18th, the closing time for this acquisition is fixed on September 1st. Through this acquisition, Filidea confirms its international dimension, consolidates its leadership within the sector of technical yarns and expands its presence in the European territory.

Related Keywords: apparel, apparel manufacturing, Bangladesh, China, export, fabric, garment, import, jeans, labour, manufacturing, production, sewing, supply chain, Textile, tshirt, workers

Offshoring of apparel manufacturing has been a blessing for many developing countries. The readymade garments (RMG) industry, employer of 4 million workers, mostly rural women, contributes more than 80 percent to Bangladesh's export revenue. Low-cost labour has been the primary reason for western retailers to wait for months to get a shipment from offshore destinations. Once technology becomes a cheaper alternative to the least costly manufacturing labour, will apparel manufacturing complete the journey in returning home?

Related Keywords: acrylic fiber, adjusted with Cotton price, Benetton, brand GAP, H&M, holding cotton, Indian spinning companies, largest manufacturer, not great, Peter England, sewing, third quater, Uniqlo, Van Heusan, Vardhman Textile, yarn, yarn price

Vardhman Textiles is among India's largest manufacturers of yarn, sewing threads & acrylic fiber. It manufactures for brands like GAP, H&M, Uniqlo, Benetton, Wills, Van Heusen, and Peter England.

According to Neeraj Jain, Joint Managing Director, Vardhman Textiles the third quarter results are not expected to be great and revenue could be in single digits or early double digits as compared to around 18 percented reported in Q2.