Taiwanese manufacturer of accessories like shoe laces and elastic tapes, Taiwan Paiho Ltd is planning to invest $50 million in setting up a manufacturing facility in Vietnam. The plant to be managed by Paiho’s Vietnamese subsidiary, Paiho Shih Holdings Corp would mainly produce jacquard knitted fabrics destined for export to various countries.
“The company will install 42 machines at the new plant, which is scheduled to begin commercial production the last quarter of 2017 and plans to install 350 such machines within the next five years,” Taiwanese media reported.Taiwanese manufacturer of accessories like shoe laces and elastic tapes, Taiwan Paiho Ltd is planning to invest $50 million in setting up a manufacturing facility in Vietnam. The plant to be managed by Paiho's Vietnamese subsidiary, Paiho Shih Holdings Corp would mainly produce jacquard knitted fabrics destined for export to various countries.#
After analysing various factors like transportation costs and tariffs of various Southeast Asian countries, the Taiwanese company zeroed in on Vietnam to set up the plant.
According to Paiho Shih chairman Cheng Kuo-yen, producing jacquard warp-knitted fabrics is projected to help it enhance its presence in the shoe material market, since there is an increasing demand for the fabrics from shoe manufacturers from across the globe. (AR)
Fibre2Fashion News Desk – India
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