Everest Textile Co., vertically integrated textile manufacturer from Taiwan, has disclosed that two of its new plants in Ethiopia and the US are scheduled to begin operations in the first half of current year.
The plant in Ethiopia will manufacture garments for the company’s brand in Europe, while the US facility would supply knitted fabrics and garments to customers in the US. The two new factories are expected to add to the sales from garments which currently generate less than 2 per cent of the company’s total sales. Revenue from woven and knitted fabrics accounts for more than 80 per cent of its total sales, while textured yarns generate nearly 10 per cent.
In addition, Everest’s local peers, including Lealea Enterprise and Eclat Textile also plan to accelerate overseas capacity expansion plans this year. Lealea has approved a plan to invest as much as US $ 50 million in its first overseas factory in Indonesia, which is scheduled to begin operations in the first half of the current year. The plant will have a target capacity of 4 million yards of polyester yarn per year. It is also considering building another plant in Vietnam because of lower tariffs on exports to the EU.