Vietnamese garment manufacturer Quang Viet Enterprise Co. has revealed its plans to spend between US $ 3-6 million in current year in an effort to expand capacity.
“The amount will be much lower than last year’s US $10 million, as the company has almost reached its near-term capacity expansion target. It would mainly be used for establishing new production lines and purchasing equipment at the existing plants in Vietnam, instead of building new plants. We expect the expansion would stimulate this year’s output to grow between 8 and 10 percent annually from last year’s 9.07 million units of clothing,” informed the manufacturer.
The company is planning to add 15 production lines at its plant in Vietnam’s Tien GiangProvince and build 15 lines at its new plant in Long An province, set to begin production in the first quarter of current fiscal. The new production lines would mainly produce high-end down jackets for the company’s global sportswear and functional clothing clients, including Adidas AG and North Face Inc.
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Also, it is mulling to acquire a knitwear plant in Vietnam this year to raise its competitiveness and market presence in the global garment industry. The new plant would help the company reach more clients and diversify its product portfolio further.
Quang Viet manufactures down, primaloft, thermoball and padded jackets, as well as jackets made of goose down and duck down for global brands.
