Wilbur L. Ross, Chairman of the ITG, said, "We anticipate our discussions with Vinatex to be quite broad in scope and range from commercial and technical points of view, encompassing global sales and services to more specific issues such as managing selected manufacturing plants in Viet Nam. We will also consider opportunities to invest in new and existing Vinatex facilities."
Vinatex has assets totalling VND12 trillion ($757 million), and along with its 57 affiliates churns out products to the tune of VND9.4 trillion ($599 million) annually, grossing an export value of over $1 billion.
The International Textile Group of Wilbur Ross & Co acquired Burlington Industries and Cone Mills in 2004, and has an annual sales of nearly $900 million. The company has five business units, namely Cone Denim, Burlington WorldWide, Interior Fabrics, Carlisle Finishing and Nano-Tex.
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