Guinness Peat Group plc released its preliminary financial results for the year ended 31 December 2013, incorporating the 2013 preliminary results for Coats plc, the world’s leading industrial thread and consumer textile crafts business. Coats plc highlights - Robust trading results despite muted market conditions - Revenue of $1,704 million, up 5% like-for-like with both Divisions showing growth - Operating profit up 12% like-for-like before exceptional items - Attributable profi

Xinxiang Chemical Fiber Co. Ltd., based in Henan province of China, has commenced construction of an ultra-soft spandex fibre project, and a groundbreaking ceremony was held last week. Shao Jin, chairman of the company, said the construction of ultra-soft spandex fiber project with an annual capacity of four million tons is likely to be completed in 24 months time. The new project is being built on an area of nearly 80,000 sq m at a cost of 1.75 billion yuan, and is the first such large-sc

The Central Asian country of Tajikistan can increase production of organic cotton fibre and also find an industry that could process it, says Simon Ferrigno, International Trade Centre (ITC) international consultant on organic cotton, reports asiaplus.tj citing press release from ITC Tajikistan. Mr. Ferrigno has conducted a feasibility study ‘Organic Cotton Production and Processing in Tajikistan: An Assessment of the Current Situation and Future Potential’ and the key findings of the study a

Leather manufacturers exports from the country during first seven months of current financial year increased by 11.61 percent and reached at US$ 378.665 million as compared to the exports of US$ 339.265 million in corresponding period of last year. From July-January, 2013-14, leather garments exports from country registered growth of 10.76 percent about 705 thousand dozen of leather garments worth US$ 256.093 million exported against the 571 thousand dozen valuing US$ 231.206 million exported du

Pakistan’s textile exports sustained the slowdown in Chinese appetite for yarn and fabric in January with its value-added sector making up greatly the slack in China with increasing exports to European Union on the back of the GSP Plus status. “Even fabric exports – basic textile – registered an increase of 3.7 percent from $203.29 million in January 2013 to $210.81 million in January 2014,” said SM Tanveer, chairman of All Pakistan Textile Mills Association (Aptma) Punjab. It is worth no

Tannery owners are set to start relocating hazardous factories from Hazaribagh in Dhaka to Savar by the end of March. “At least 25 companies will be the first to begin constructing factories in Savar,” said M Abu Taher, chairman of Bangladesh Finished Leather, Leather Goods and Footwear Exporters' Association. Tanners have decided to start the relocation taking the environmental issues into consideration and hoping to boost exports, he told The Daily Star by phone yesterday. Taher made

Full of passion and hand gestures, Mastaeem Billah Chowdhury was articulating the merits of the fire extinguishing system that his company is displaying at the International Trade Expo for Building and Fire Safety at Sonargaon Hotel. “This is the most efficient and reliable solution out there,” said the UK-educated electrical engineer to the handful of visitors at his stall. Chowdhury, who is the managing director of Re-Green Bangla Industries, assured the visitors, most of whom were garme

Labor unions and garment factory owners gave opposing reports of the scale of an overtime boycott that began Monday as the first phase of a nationwide labor strike planned for next month. Union leaders estimated that workers refused to work overtime at between 100 and 200 factories, while the Garment Manufacturers Association of Cambodia (GMAC) said that “very, very few” of the country’s more than 400 factories were affected by the industrial action. Garment workers leave factories a

Kyrgyz women work in a newly opened garment factory February 8 in Osh. Women in the south are reviving the garment industry. [Bakyt Ibraimov] Garment making might become a road to prosperity for women in southern Kyrgyzstan. Osh women in early February opened up a garment factory to address two problems. The "For Sweet Moms" factory sews clothing for pregnant women and newborns and employs over 50 women. Trying to find clothes Altynai Urkunbayeva, the founder of the factory, said

Succumbing to pressure from industrial tycoons, the government decided on Wednesday to restore supply of natural gas to textile units, even though about 2,000MW capacity remained idle at power plants due to gas loadshedding. The decision was taken at a meeting presided over by Finance Minister Ishaq Dar a day after the Pakistan Textile Exporters Association launched a media campaign for diversion of additional gas to the sector. The meeting, also attended by Minister for Petroleum and Na