|Vietnam and English thread maker join business under the name Coats Phong Phu. – Photo PhongPhucorp
HCM CITY (VNS) - Coats, the world's leading industrial thread maker, launched a consultancy business at a ceremony held in HCM City on November 13 to mark the 25th anniversary of its Vietnamese joint venture, Coats Phong Phu.
Coats Global Services will help manufacturers and brands make a difference to their operations through a range of productivity improvement tools and processes like lean manufacturing, shop floor training, and colour management.
Paul Forman, group chief executive of the UK-based Coats, said, "Viet Nam has been and will continue to be one of the top three countries in terms of investment for Coats plc in the coming years."
Twenty five years after its establishment, Coats Phong Phu has been one of the very fastest growing businesses in terms of sales, it is one of the biggest businesses worldwide and a good profit contributor to the group.
"It has been one of the biggest and definitely one of the most successful joint ventures we have in the world."
Demand for threads is expected to increase in Viet Nam and Asia generally, he added. — VNS