Coats plc, the world\u2019s leading industrial thread and consumer textile crafts business, is celebrating 25 years of operating in Bangladesh.\u00a0 This historic milestone is being marked by the announcement of the opening of a new state of the art zips factory in Chittagong, at a gala event in Dhaka on Sunday 19 October, attended by over 400 customers and suppliers.\u00a0 The event will also recognise the highly successful joint venture in Bangladesh with AK Khan Group.<\/p>\n
The Ready Made Garments (RMG) industry has been the mainstay of Bangladesh\u2019s economic growth since Coats was established there 25 years ago, when exports were worth US$624 million and the sector employed 320,000 people.\u00a0 By 2004 exports had grown to US$6.4 billion and the sector employed 2 million people.\u00a0 This year exports are expected to reach over US$25 billion and employment will reach over 4 million people.*<\/p>\n
Coats has world class manufacturing sites in Chittagong, in the south east of the country, and Gazipur, near the capital Dhaka, which operate 24 hours a day, seven days a week.\u00a0 The new zips factory will open in the early part of 2015 and is being established in response to the growing demand from global consumer brands manufacturing apparel and footwear in Bangladesh.\u00a0 The new factory will create over 100 new jobs locally and over time will manufacture the full offering of zips.<\/p>\n
Paul Forman, Group CEO, Coats plc, said: \u2018Coats is extremely proud of our world class operation in Bangladesh and the support and relationship with our joint venture partner.\u00a0 Our business has seen significant growth and development, particularly in the last few years, and the opening of our new world class zips factory is a demonstration of our commitment to an ever-growing presence here.\u2019<\/p>\n
At the event on Sunday, Paul Forman will discuss the market dynamics driven by the longer term \u2018mega trend\u2019 of the growth of the Asian middle class, as the Asia-Pacific region moves from being primarily a manufacturing base to the world\u2019s largest consumer market.\u00a0 He will talk about the global apparel sourcing \u2018heat map\u2019, with Bangladesh being one of the main hubs in the \u2018hot spot\u2019 of South Asia.\u00a0 He will also cover key influences on the sector going forward including: cost inflation and productivity, time and speed as the basis for competitive success and the use of digital technologies to drive efficiencies in the supply chain.<\/p>\n
Coats particularly focuses on the influential and informed customer base in Bangladesh to test and launch new products and services.\u00a0 In April 2012, it was one of seven countries where Coats Colour Express, the world\u2019s first fully digitised web based colour matching service, was previewed.\u00a0 The full global roll out for the now award winning service took place later in 2013.<\/p>\n
Ranjan Chakhaiyar, Managing Director, Coats Bangladesh, said: \u2018We have a very strong, talented and dedicated team here which has helped make Bangladesh one of the flagship businesses of Coats.\u00a0 We have built a strong foundation for the next 25 years.\u2019<\/p>\n
The Bangladesh business has gone from strength to strength in recent years.\u00a0 Coats conducts an annual global employee engagement survey and Bangladesh has experienced the most significant improvement; in the 2013 survey the engagement score was 87%, up from 49% in 2010.\u00a0 Earlier this year, it was awarded \u2018Coats Business of the Year\u2019 and also received the inaugural CEO Award for \u2018Health and Safety Excellence\u2019, having reached over five million accident free hours.<\/p>\n
The highly successful joint venture between Coats and the AK Khan Group started in October 1989.\u00a0 Coats Bangladesh\u2019s head office is located in Tejgaon, Dhaka, and the first factory opening in 1990 in Chittagong followed by a second factory in Gazipur in 2000.\u00a0 Both factories have continued to increase capacity to manufacture an ever increasing and diverse range of products to supply both the growing requirement of Bangladesh and global exports.<\/p>\n
Coats Bangladesh produces many of Coats newest and most innovative products including flame retardant threads, Hemseal (adhesive thread for hems), Eloflex (thread with high extension properties for use stretch fabrics), Aquamelt (water soluble thread for temporary stitching applications) and Drybond (water resistant, strong and durable anti-wick threads for use in sports equipment).<\/p>\n
In November 2014, Coats will be celebrating another corporate milestone in the region as it marks the 25th<\/sup>\u00a0anniversary of its highly successful joint venture with Phong Phu in Vietnam.
\nENDS<\/b><\/p>\n