Timex and Fergasam Group forays into North

by Lalin FERNANDOPULLE

The Timex and Fergasam Group laid the foundation stone for the first apparel factory in Mannar yesterday. This is the first BOI apparel factory of the Group in the North to be set in the Mannar Industrial Zone. Timex and Fergasam Group Director Anis Sattar said that the two factories will be set up at a cost of US five million providing employment to around 1,200.

“Each factory is estimated to cost US 2.5 million and work will begin next month with commercial operations to commence by October”, he said.

The two state-of the art factories will be set up on a 70,000 sqft plot of land in the zone. UK, USA and Europe are the main targeted markets of the Group. Officials of Timex and Fergasam said that the new additions will be the 17th and 18th plants to come under the Group.

According to them, the project will be in two phases the first factory will provide employment for 1,200 and the second, for 800. Timex and Fergasam currently have over 8,000 in the workforce in the 16 manufacturing facilities, with offices in UK and Hong Kong.

Among the clients aer Marks & Spencer, Victoria’s Secret, House of Frazer, Diesel, H&M and SUZI Chin.