Frame Textiles looks for cooperation with Chinese enterprises
Source: Fibre2fashion News Desk - China Date: 2009-07-17
South Africa's biggest textile enterprise, Frame Textile Group has expressed a desire to cooperate with Chinese textile and apparel companies and if fruitful, this could be the single largest investment in South Africa in the light industry by China.
In April this year, Frame's parent company, Seardel announced a corporate restructuring plan. The company had in a statement suggested of putting an end to several business units, if necessary.
The company has tried all possible ways to remedy the situation, including restructuring and re-adjustment and downsizing operation.
It is reported that Frame looks forward to working with Chinese enterprises by way of joint venture, technical cooperation, financial cooperation and establishment of cooperative partnerships.
According to statistics, so far the Ministry of Commerce in China has approved two garment processing enterprises in South Africa, with investment amounting to US $500,000 and $600,000, respectively.
In April this year, Frame's parent company, Seardel announced a corporate restructuring plan. The company had in a statement suggested of putting an end to several business units, if necessary.
The company has tried all possible ways to remedy the situation, including restructuring and re-adjustment and downsizing operation.
It is reported that Frame looks forward to working with Chinese enterprises by way of joint venture, technical cooperation, financial cooperation and establishment of cooperative partnerships.
According to statistics, so far the Ministry of Commerce in China has approved two garment processing enterprises in South Africa, with investment amounting to US $500,000 and $600,000, respectively.
