Investment Archives - Page 30 of 31 - Bangladesh Textile Journal | News and Analysis | Research Articles

Textile and garment leaders seek urgent government support to protect spinning sector

18/10/2022

Far Chemical enters the spinning business

Far Chemical Industries entered the spinning business with an investment of Tk300 crore for business diversification, media reported based on a statem

Canadian hemp textile manufacturer Bast Fibre Technologies (BFT) says it’s secured “major strategic financing” from cleantech investment company Ahlström Capital. BFT has not disclosed the sum to which it’s being funded by the Finnish venture capital firm, but it’s indicated that it will help facilitate the expansion of its manufacturing capacity at both its sites in North Carolina and Düsseldorf. “The market for natural fibres is set for rapid growth, and this highly strategic funding will help BFT to solidify its position and further accelerate its expansion to meet the increasing demand for tree-free, plastic-free fibres,” Jim Posa, BFT’s chief executive told media. With this financial backing, Bast Fibre has said it will produce over 10,000 metric tonnes of its Sero-branded hemp fibre by next year, and hopes to scale this up to more than 50,000 metric tonnes per annum by 2026. "Nonwoven companies, converters, and leading consumer goods companies are looking for viable natural fibre options to achieve their corporate sustainability initiatives as they move away from synthetics," Posa added. Ahlström Capital has indicated that it invested in BFT in a bid to “help drive sustainable development” within the textile sector. Speaking to the media, President and CEO, Lasse Heinonen said; “With a strong and experienced management team, BFT is well positioned to become a global leader in the production of sustainable bast fibres. We see sustainable value-creating opportunities in the company.” Noel Hall, BFT’s board chair commented “It is important for us to work with an investor that shares our values and our vision of moving away from synthetic materials in nonwoven applications. Ahlström Capital has several complementary portfolio holdings in the nonwoven and sustainable fibre industries, making it both a natural fit and value-added investor for BFT.”

17/10/2022

Canadian hemp fibre manufacturer secures funding

Canadian hemp textile manufacturer Bast Fibre Technologies (BFT) says it’s secured “major strategic financing” from cleantech investment company Ahlst

16/10/2022

Bangladesh can be Brunei’s right place for investment : Commerce Minister

Commerce Minister Tipu Munshi urged energy-rich Brunei to invest in Bangladesh by taking advantage of facilities that the country offers to foreign in

13/10/2022

German Business Council (GBC) launches in Bangladesh

The German Business Council (GBC) has officially been launched on Thursday, 13th October 2022 GBC is an association of German private companies operat

04/10/2022

Bangladeshi exporters worried about stuck payments as French fashion buyer goes bankrupt

A Lille court declared bankruptcy of French fashion chain Camaieu’s on Wednesday and the subsequent closure of all its shops on Saturday has lef

04/10/2022

Chinese RMG company invests $9.58m in Chattogram EPZ

Chinese company Intex Link Garments (BD) Limited is going to set up a garments factory in the Chattogram Export Processing Zone (EPZ) with an investme

26/09/2022

Dhaka Chamber business delegation off to Istanbul to explore new trade and investment opportunities

An 86-member business delegation from Dhaka Chamber of Commerce & Industry (DCCI) will leave for Istanbul, Türkiye on 27 September 2022 for a 4-da

BEZA to create "Green Factory Hub" at Mirsarai to attract global investors

22/09/2022

Six local firms, including RMG, to invest $457m in EZs of BEZA

Six Bangladeshi companies, including textile and garments, signed a land lease agreement with the Bangladesh Economic Zone Authority (Beza) to invest

18/09/2022

Foreign RMG manufacturing company to invest $25.62m in Dhaka EPZ

Hong Kong-Sri Lanka-Switzerland-owned company Ms Gava Private Limited is going to establish a garments manufacturing industry in Dhaka EPZ. This fully

14/09/2022

Anwar Group to invest giant amount to set up new factories including a denim unit

Anwar Group is going to invest Tk.48 billion to set up three new factories, including a denim unit, which is expected to provide employment to some 6,