Coats, the world’s leading industrial thread company, is celebrating 30 years of operating in Vietnam.
The anniversary is being marked by a gala celebration dinner in Ho Chi Minh City today attended by over 300 guests including customers, suppliers, employees and joint venture partners and also Chairman, Mike Clasper and Group Chief Executive, Rajiv Sharma, along with other members of the Coats Group plc Board.
The milestone recognises the highly successful joint venture between Coats and Phong Phu Corporation which was established in 1989. From a single small factory in Ho Chi Minh City 30 years ago, it has expanded operations to major cities across Vietnam and Cambodia and the recent expansion of the Hung Yen site has increased capacity further.
Rajiv Sharma, Group Chief Executive, Coats, said: ‘The business we have developed in Vietnam is a flagship operation for Coats. Its location within a major global apparel sourcing hub provides a strong geographic advantage. However, it is the close and collaborative relationship with our joint venture partner Phong Phu Corporation that has helped make it the success that it is today.’
Part of the 30th anniversary celebrations include the formal opening of a new rooftop solar power generation unit at the Ho Chi Minh site. The solar power generation unit is both one of the first and largest installed within the textile industry in Vietnam. The generation capacity will be 1 Megawatt.
Bill Watson, Managing Director, Coats Vietnam, said: ‘Integrating renewable sources of energy, like our new solar power generation unit, into our operations is important for our business in Vietnam and also supports the wider Coats priority to put sustainability at the heart of our company strategy. We will be looking at every opportunity to increase our sustainability further to see us through the next 30 years, and beyond.’
Coats Phong Phu was named as one of the ‘Best Companies to Work for in Asia 2018’ by HR Asia magazine. It also has an extensive community engagement programme to achieve its objective of creating long-term, real benefits for the communities surrounding it, as well as the environment. It supports the Ta Oi people in the mountainous region of A Luoi in central Vietnam by supplying them with excess threads to help sustain ancient weaving traditions. The woven textiles are sold to designers of ethical products which supports further economic development. Other projects include renovating local primary schools, providing computers and books to students and installing clean water supply systems for citizens in Ninh Thuan, a province in south east Vietnam.