06th January 2012, www.lankabusinessonline.com
Apparel exporters Timex and Fergasam Group will build two factories at a cost of five million US dollars in Sri Lanka's north-western Mannar, part of the former war zone, the ministry of industry and commerce said.
The first Mannar factory is to start production by mid-October 2012, its statement quoted officials of Timex and Fergasam as saying.
The project will be in two phases with the first factory giving employment for 1,200 people and the second for 800.
The new factories will be the 17th and 18th manufacturing facilities to be set up by the apparel group.
Timex and Fergasam currently employs more than 8,000 across its 16 manufacturing facilities with offices in UK and Hong Kong.
Among clients of Timex and Fergasam are top labels like Marks & Spencer, Victoria’s Secret, House of Frazer, Diesel, H&M and SUZI Chin, the statement said.