S\u00e3o Paulo \u2013 Textile mill Tear T\u00eaxtil Ind\u00fastria e Com\u00e9rcio is going to invest 36.4 million Brazilian reals (US$ 19.7 million) in the state of Minas Gerais. The figure will be invested in concluding the company’s expansion process, which started in October last year and should end in 2011. The company directors, Jos\u00e9 Eug\u00eanio da Fonseca and Jos\u00e9 Canuto de Oliveira, signed a protocol of intention with the government of the state this week.<\/p>\n
The Minas Gerais Development Bank will supply 15 million reals (US$ 8 million) and the remainder will come from the company itself. The funds will be used in construction, purchasing of machinery, equipment, furniture and utensils, with the aim of increasing production capacity to 22.5 million linear metres per year. Presently, the company manufactures 1.65 million linear metres of fabric each month.<\/p>\n
The investment also includes transferring the company’s operations from the municipality of Contagem to the city of Paraopeba. \u201cIt is a municipality with a textile vocation, it already is home professionals who are familiar with the procedures of the industry, which ranks among the five leading segments in terms of job generation,\u201d explained Fonseca. With the expansion, the company aims to obtain revenues of 110 million reals (US$ 59 million) in 2010 and generate 850 direct jobs.<\/p>\n
Out of Tear’s total production, 45% consists of indigo fabric and 55% are other fabrics, such tricoline, viscose and serge. The company was established in 1999 and operated initially with fabric sales. In that same year, it leased a factory complex and started making fabrics as well. Presently, Tear has 35 representatives across Brazil and abroad, plus two stores in the city of Belo Horizonte, capital of the state of Minas Gerais.<\/p>\n
*Translated by Gabriel Pomerancblum<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
Fabric manufacturing company Tear is going to invest the funds in expanding its factory complex. The enterprise currently manufactures 1.6 million square metres of fabric per month.<\/p>\n","protected":false},"author":2316,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-31907","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy"},"wps_subtitle":"Fabric manufacturing company Tear is going to invest the funds in expanding its factory complex. The enterprise currently manufactures 1.6 million square metres of fabric per month.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/31907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=31907"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/31907\/revisions"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=31907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=31907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=31907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}