Mekong Capital announced that the Mekong Enterprise Fund II, Ltd. (“the Fund”) has invested US$5,400,000 in Venture International (Vietnam) Joint Stock Company (“VIVCO”). This is the 4th investment of the Fund, which was launched in June 2006.
Mr. Johannes Maria Somers, the founder, Chairman and CEO of VIVCO said: “VIVCO is a garment manufacturer producing work wears, corporate wears, children wears and shirts/blouses mainly for the European market. We have experienced strong growth currently with 4 workshops always operating at full capacity. VIVCO chose Mekong Enterprise Fund II, Ltd. as a strategic partner thanks to the intangible added value that the Fund can offer. VIVCO has found a mutual understanding and trust while working with the Fund. An investment by the Fund not only reflects the success of VIVCO but also fuels the company to maintain its leading market position while pursuing long-term growth plans.”
Mr. Chris Freund, Managing Director of Mekong Capital said: “We are very excited about the Fund’s investment in VIVCO. The company has established itself as the leading garment manufacturer for the European market due to the impressive international experience and expertise of Mr. Somers, his well-established customer base as well as his determination to provide customers with first-class products. Steered by an outstanding management team, VIVCO has been able to develop a system that is very much focused on product quality, customer satisfaction and continuous improvement to better meet customer requirements.”
Established in September 2007 in Hai Duong province, VIVCO is the result from the merger of Venture International (Vietnam) Limited Company (founded in 1992) and Song Ha Limited Company (founded in 2002). The company specializes in the producing of work wears, corporate wears, children wears and other general apparels mainly for the European market.
The founder and CEO of the company, Mr. Somers, was among the first Dutchmen to set up a business in Vietnam. He has over 40 years of experience in the garment and textile industry with extensive international exposure in countries such as South Africa, Sri Lanka, Hong Kong, Malaysia, and Laos.
The company currently operates 4 workshops with over 1,800 workers, producing thousands of pieces per day. In order to raise its capacity, VIVCO plans to put another 2 workshops in operation by July 2009.
H.Ly
Vietnamese
