Wilbur Ross broadens Vietnam textile investments
June 21, 2007,
New York – Investor WL Ross & Co. and his International Textile Group (ITG) have committed to three joint ventures with clothing and textile manufacturer Phong Phu Corp., based in Ho Chi Minh City,Vietnam.
WL Ross and Phong Phu will “explore various real estate-related” ideas, the company said, and WL Ross may help fund Phong Phu in an initial public offering (IPO).
ITG will “consider up to $100 million of operating support” and expansion of its existing $80 million cotton fabric and apparel joint venture with Phong Phu in Da Nang , Vietnam .
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