Dhaka, Bangladesh (BBN)– Coats, the world’s leading supplier of industrial thread to clothing industry, has decided to set up a new zip manufacturing factory in Chittagong early next year.
The new zip factory is being established in response to the growing demand from global brands manufacturing apparel and footwear in Bangladesh, the company explained.
“Our business has seen significant growth and development, particularly in the last few years and the opening of our new world class zips factory is a demonstration of our commitment to an ever growing presence here (in Bangladesh),” Paul Forman, group chief executive of the Coats, said in Dhaka on October 19.
Mr. Forman was speaking at a gala function organised in connection with the company’s 25 years of business in Bangladesh.
He came to Dhaka on October 18 to celebrate his company’s 25th anniversary.
While the UK-based group gave no further details, it said the factory will generate more than 100 new local jobs and over time will manufacture the full offering of zips.
Coats Bangladesh has been strengthening its foothold in the country with the growth of the garment sector.
The Coats now has two thread manufacturing companies in Bangladesh—one in Gazipur and the other in Chittagong— where 1,600 workers and experts are employed.
The 250-year-old company has a big warehouse in Dhaka for distributing its products to the factories that supply garment items to global retailers and brands, including Walmart, H&M, M&S, Next and JC Penney.
Currently, Coats is ruining its businesses in more than 70 countries, employing over 20,000 people in six continents. The firm globally generated revenues worth $1.7 billion in 2013.
BBN/SSR/AD-21Oct14-7:59 am (BST)
