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Brazil:Horizonte Textil to raise production capacity by 20% |
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2004-11-8
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Horizonte Textil plans to raise production by 20 percent to reach 24 million meters per year by April 2005, with R$6 million investments in the acquisition of 27 textile machinery.
The company produces cotton fabrics and is concentrating on high value added products, targeting at clothing companies instead of targeting at distributors and wholesalers.
Company''s revenue may reach R$90 million in 2004, a 40 percent increase as against R$64 million in 2003.
Horizonte Textil''s production may increase by 6 percent to 17.5 million meters over 16.5 million meters in 2003 and 18 million meters in 2002.
The clothing segment corresponds to 60 percent of sales, the shoe and accessories, 20 percent, and the remaining 20 percent sales come from distributors and wholesalers.
Horizonte Textil exports 4 percent to Latin American countries like Argentina, Mexico, Colombia, Paraguay, Bolivia, Peru and Chile.
The company was founded by the group VDL, active in Minas Gerais, Goias and Rio Grande do Norte states. VDL owns Mercedes Bens car dealer chains, VDL Siderurgia, VDL Fomento Mercantil and Real Bebidas.
To penetrate in the textile market, VDL acquired assets from the bankrupt Companhia Industrial Belo Horizonte, investing US$20mn in the business and further US$20 million in modernization projects.
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