SP Neotextil enlarges plant to increase exports
Valor Econômico
The Brazilian producer of technological fabrics, Neotextil, is investing R$ 30 million (US$ 15.5 million) in the next four years to increase its operation in other countries in spite of the current international crisis. "The best opportunities appear in times of crisis. Besides that, our product has added value and because of that it does not compete with the Chinese", said Sérgio Ibri, President of Neotextil, which currently sells to 12 countries and wants to increase the exports to 22 nations.
R$ 12 million (US$ 6.23 million) of the total investment will be invested in this second half for the acquisition of equipment to be installed in the plant of Americana (SP), acquired in 2007 from Vicunha Têxtil. The other R$ 18 million (US$ 9.33 million) will be put into the opening of at least five sales offices in other countries.
Today, the company offers technological fabrics for sports brands like Nike, Reebok, Olympikus, Fila, Umbro, New Balance among others. "Since we already have contracts with these companies in Brazil, it is possible for us to become suppliers in other countries as well", said Ibri. Besides this market niche, Neotextile also develops intelligent fabrics for brands like Le Lis Blanc and Richards.
In 2008, the income of Neotextil amounted to R$ 43.7 million (US$ 23.9 million) and the forecast for this year is that the income grows more than 50%.
In the last two years, the company invested US$ 2.6 million (US$ 1.35 million) in the plant of Americana for the increase of the productive capacity. Last week, the company invested another R$ 1.5 million (US$ 777.2 thousand) in order to transfer its logistics center, previously located in Itatiba (SP), to the premises of Americana. The companies also have a second stamping and dying plant in Itatiba.