Huntsman Textile Effects, a division of Huntsman Corporation and a leading manufacturer of dyes and textile chemicals, is increasing its footprints in Vietnam. Its latest venture is a bonded warehouse near Ho Chi Minh City which will open later this month.
The new facility is part of Huntsmanâ€™s efforts to address critical business challenges and collaborating with mills and brands in order to drive sustainable growth and create value in Vietnamâ€™s textile industry.
To help customers stay ahead of the game, Huntsman Textile Effects recognizes that speed and flexibility are top priorities across the textile value chain as Vietnamâ€™s textile industry continues to face economic and environmental pressures. Huntsman Textile Effects are fully committed to Vietnamâ€™s textile growth and are pleased to announce the opening later this month of a new bonded warehouse near Ho Chi Minh City, said Paul Hulme, president of Huntsman Textile Effects.
The customers will benefit from shorter order lead times and a quicker response to ad hoc deliveries through the new facility. The warehouse positions Huntsman to support customersâ€™ growth objectives when free trade agreements like the Trans-Pacific Partnership (TPP) are formalized.
The multi-user facility is located in the inland container depot (ICD) at Long Binh. The warehouse is scalable to meet industry growth potential.
Huntsman Textile Effects is already supporting the textiles sector in Vietnam through its work with Panko Vina in implementing a productivity improvement program (PIP). The plant has already adopted new technologies from Huntsman Textile Effects to save energy and water. The program will enable Panko Vina to optimize and standardize its processes and work practices to gain maximum benefit from these advanced systems and further improve yield and product quality. The PIP also reinforces the knitwear millâ€™s growth as a sustainable export business.
Vietnam is the second largest garment exporter to the US and Japan. The industry currently accounts for 14 percent of Vietnamâ€™s total exports. The countryâ€™s textile value chain has strong growth fundamentals, with production poised to grow by about 13 percent annually until 2020.
However, the current challenges faced by Vietnam textile industry is that they are import-dependent sourcing of raw materials and tougher environmental regulations.
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