Brazil Denim Giant VICUNHA Enters Argentina
Brazil
VICUNHA Textile Co., Ltd. is a denim giant. The company will invest about $40 million to acquire a new production plant in Argentina.
The investment includes acquisition and upgrading of machinery and equipment, as well as the improvement of spinning and weaving facilities. The goal of the company is to raise the monthly output to 2 million meters.
The new plant will create at least 400 direct new jobs and 1500 indirect jobs, and the acquisition of the Argentina plant will help stabilize the overall economy of South America.
Plus three existing factories, two in northeastern Brazil, one in Ecuador, VICUNHA's position on the world's largest denim and twill manufacturer list is now rising to second, thus further consolidating the company's position in the world Denim Market.
The company has 5 factories, each factory running 7 hours a day for 24 hours.
company
Europe
ThomasDislich, President of brand VICUNHAEUROPE, explained that the agreement was in February.
sign
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In the past 5 months, the Argentina group handed over its production to Brazil.
Now that the paction is officially completed, the factory has become a 100% subsidiary company under VicunhaBrastex. Its division of work includes weaving, dyeing and finishing.
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