ITG Looks to Vietnam
The Greensboro, N.C.–based International Textile Group, the company formed last year when WL Ross & Co. LLC acquired Burlington Industries and Cone Mills, announced it has begun to study business opportunities in Vietnam, thanks to a recent agreement with the Hanoi-based Vietnam National Textile Garment Corp. (Vinatex). ITG executives said they are keeping the details of the Vinatex talks confidential but mentioned that the opportunities range from “commercial and technical agreements encompassing global sales and services to more specific issues such as managing selected manufacturing plants in Vietnam.”
