Brazil’s Indigo Maker Tear Tíªxtil in Expanding Mode

Tear Têxtil
Brazilian textile mill Tear Têxtil Indústria e Comércio is going to invest 36.4 million Brazilian reais (US$ 19.7 million) in the state of Minas Gerais, in southeastern Brazil. The figure will be invested in concluding the company's expansion process, which started in October last year and should end in 2011.

The company directors, José Eugênio da Fonseca and José Canuto de Oliveira, signed a protocol of intention with the government of the state this week.

The Minas Gerais Development Bank will supply 15 million reais (US$ 8 million) and the remainder will come from the company itself. The funds will be used in construction, purchasing of machinery, equipment, furniture and utensils, with the aim of increasing production capacity to 22.5 million linear meters per year. Presently, the company manufactures 1.65 million linear meters of fabric each month.

The investment also includes transferring the company's operations from the municipality of Contagem to the city of Paraopeba. "It is a municipality with a textile vocation, it already is home professionals who are familiar with the procedures of the industry, which ranks among the five leading segments in terms of job generation," explained Fonseca.

With the expansion, the company aims to obtain revenues of 110 million reais (US$ 59 million) in 2010 and generate 850 direct jobs.

Out of Tear's total production, 45% consist of indigo fabric and 55% are other fabrics, such tricoline, viscose and serge. The company was established in 1999 and operated initially with fabric sales.

In that same year, it leased a factory complex and started making fabrics as well. Presently, Tear has 35 representatives across Brazil and abroad, plus two stores in the city of Belo Horizonte, capital of the state of Minas Gerais.

Anba

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

A Chinese-Brazilian satellite, the CBERS

Brazil and LatAm Should Get Ready to Sell China Added-Value Products

The trade honeymoon between China and Latin America cannot last forever, experts warn: sooner ...

Brazil’s Lula in Paraguay for Mercosur Summit

Brazilian President Luiz Inácio Lula da Silva is in Assuncion, Paraguay, for the 28th ...

Amnesty Wants Full and Public Probe on Killing of Brazilian by London Police

A jury at the Central Criminal Court in London reached the verdict today (November ...

Brazilian Politics Leonard Cohen Style

Whenever I try to follow the ins and outs of Brazilian politics with its ...

Brazil’s Lula Leaves Today for G8 Summit

According to professor Eiti Sato, of the University of BrasÀ­lia Department of International Relations, ...

Brazil Is Ready for Foreign Private Partners

The challenges facing development cannot be overcome without public-private partnerships (PPPs). This is the ...

São Francisco river in the Brazilian Northeast

Hundreds of Brazilian Indians and Slave Descendants Protest River Transposition

The sentence "No to the transposition of the São Francisco river, the solution is ...

Sour Brazil-US Relations Couldn’t Spoil the Joy of Our Children’s Wedding

My son married a lovely Brazilian woman. Their friendship, romance and eventual nuptials extol ...

Rapidinhas

Beach beauty Michelle Patrícia Martins, the 1996 Rio’s Summer Muse, had a previous brush ...

Mass Protests Awaken Brazil’s Political Consciousness

In what has been deemed Brazil’s largest political mobilization in over two decades, protesters ...