WL Ross Adds on in Vietnam
David Perry -- Furniture Today, June 25, 2007
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" projects, and WL Ross may help fund Phong Phu in an IPO, (initial public offering).
ITG will "consider up to $100 million of operating support" to expand on its existing $80 million cotton fabric and apparel joint venture with Phong Phu in Da Nang, Vietnam.
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