Timex & Fergasam expands to Mannar with $ 5 m investment

Saturday, 7 January 2012 02:15 - - {{hitsCtrl.values.hits}}

The first BOI apparel manufacturer to enter Mannar, Timex & Fergasam Group (T&FG), will be investing $ 5 million for its two factories in the region.

The foundation stone laying ceremony for T&FG’s manufacturing facilities will take place in the afternoon today at the Mannar Industrial Zone.

“The two new garment factories, once built, will also provide employment for more than 2,000 at its full capacity,” said Minister of Industry and Commerce Rishad Bathiudeen, after he met with the top officials of Times and Fergasam Group.

According to company officials, the firm is a $ 60 m Sri Lankan apparel producer, within the top five apparel manufacturers of Sri Lanka. T&FG won the 2006 NCE Export Award and the All Star Award 2007.

Minister Bathiudeen will inaugurate the commencement of the groundwork for T&FG’s two factories today at Mannar Industrial Zone, Mannar. “This is the first BOI apparel venture to start in Mannar area,” he said.

Officials of Timex & Fergasam said that the upcoming factories will be the 17th and 18th manufacturing facilities to be set up by the apparel group.According to them, the project will be in two phases – the first factory will provide employment for 1,200 and the second for 800.

Timex & Fergasam currently employs more than 8,000 across its 16 manufacturing facilities with offices in UK and Hong Kong. Company officials also revealed that the first Mannar factory to start production will begin operations by mid-October 2012.

Among the company’s clients are such top labels as Marks & Spencer, Victoria’s Secret, House of Frazer, Diesel, H&M and SUZI Chin.