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Mogotex to invest ?14mn in upgrade projects in 2012-2013

MOGILEV, 2 November (BelTA) - In 2012-2013 Mogotex plans to invest about ?14 million in the development of production, BelTA learnt from the company’s director general Viktor Matievich said. “Science and technology is fast-paced todat. To keep up with progress and thus remain competitive, we should aim for retooling, more efficient and effective knowledge-based work,” Viktor Matievich said. According to him, while the first phase of the investment program was in progress, a business plan for the second phase (2012-2013) was prepared. The volume of investment is estimated at ?14 million. The concept of further development of the company has been submitted to the government. For the time being the company has decided not to stop and carry out local technical retooling and modernization projects. For example, the company has already purchased dyeing equipment for ?800,000. There are plans to upgrade the laboratory and purchase new equipment worth about ?500,000. “We intend to inject most of the investments in upgrade of the finishing factory which generates the main value added. This is where fabric acquires unique properties: antibacterial, acid-resistant, fire-resistant. Today, fabrics for special application account for about 80% of production. The demand for other products is high, but we cannot satisfy it as we lack the capacity. Thanks to the second phase of modernization, we will be able to increase production, reduce costs and increase the quality of products. As a result, Mogotex will be one of the most advanced textile enterprises in Europe,” Viktor Matievich stressed. Constant attention to innovative technologies and modernization has propelled the company to the top five suppliers of textile products of the Russian Federation. The company produces 56 million square metres of fabric per year, delivering them to 17 countries around the world. Mogotex continues to develop new products, pursues a philosophy of openness to new ideas and projects, constantly develops partnerships and improves the quality of products. For example, Mogotex two types of fabrics were recognized best at the recent international competition “The Best Fabric 2012” in Moscow. In January-September 2011 the output was up by 8% from the same period last year. Exports rose by almost 30%. The enterprise was founded in 1973. In 2000 it was transformed into a joint stock company. This is one of the largest manufacturers of textile products in Belarus and CIS. Mogotex operates weaving, finishing and garment factories and other facilities.

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