ITG to Llaunch Offshore Plants in China
Source: bharattextile Date: 2007-05-08
International Textile Group Inc., makes automotive safety textiles, denim and other apparel fabrics, is going to open four manufacturing plants offshore by early 2008.
More than $300 million combined capital will be invested in two plant in China and one plant in Nicaragua and Vietnam.
Textile Group plans to spend $35 million on an expansion of its woven-airbag plant in Cordova, N.C.
After Completion of expansion ITG will have 12 of its 19 manufacturing operations outside the United States.
The report said that a loss of $50 million in fiscal year 2006, primarily caused by restructuring costs related to the closing of domestic plants and the start-up expenses of its Greenfield projects.
International Textile Group (ITG) has cross-stitched its way into the denim and fabrics world.
ITG also operates Carlisle Finishing, which makes jacquard fabrics and offers commission finishing, including custom printing and dyeing services, to the home decorative, specialty apparel, and craft fabrics markets. In addition, ITG is one of the largest commission printers of home furnishings fabrics in North America.
