MADRID, June 1 /CNW/ -- Tavex Group, world leader in Denim, has informed
today completion of assets acquisition in Mexico, which should increase the
company's manufacturing capacity in the country to 30 million meters including
Denim and Workwear fabrics. According to Herbert Schmid, Tavex Group CEO, this
investment represents in Denim the continuity of the strategy of consolidating
world leadership in the differentiated Denim fabrics industry, positioning the
company definitively in the U.S. market.
Tavex Group, based in Madrid, already owns manufacturing facilities in
the city of Puebla in MC)xico, and is working to expand its capacity through
the acquisition of assets -- buildings, facilities, and machinery -- from the
Mexican company Acabados y Cortes Textiles, S.A. de C.V., ("ACOTEX"). Such
assets include two production plants in the cities of Puebla and Tlaxcala,
Mexico. According to Schmid, with the agreement, the aforementioned assets and
management will become full and exclusive responsibility of the Tavex Group
and its Board of Directors, without any participation of the former owner,
controllers or managers of the Mexican company.
The marketing and sales area will be the responsibility of Jake Fraser,
Tavex Director for North and Central America. "Our objective with this
investment is to increase Denim production in the differentiated products
segment (Authentic and Premium lines) in North America," comments Herbert
Schmid. As part of this strategy, in July, Tavex will open a Service Center
in New York to meet the demand of current and future clients.
The Tavex Group, world leader in Denim, has an installed capacity of 200
million meters per year of Denim fabrics, twills for Sportswear and for
professional clothes (workwear), with annual sales of approximately US$ 500
million in 2006. With clients in over 50 countries, it has plants in Spain,
Mexico, Morocco, Brazil, Argentina and Chile.
Tavex Algodonera S.A.
CL-A Comunicacoes - Iracema de Carvalho +55 11 30823977
For further information:
For further information: Iracema de Carvalho, CL-A Comunicacoes,
+011-5511-30823977, for Tavex