• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Chennai , Oct. 23

APACHE Footwear, a Taiwan-based sports shoe manufacturer, proposes to set up a $60 million (about Rs 250 crore) footwear production facility near Chennai, according to industry sources.

The company is in discussion with the State Government to acquire over 250 acres land near Sriperumbudur, about 35 km west of Chennai. It has sought Special Export Zone status for its facility, sources said.

The production facility here will be a subsidiary of the Taiwan Company.

Apache is a leading manufacturer and supplier of sports shoes for the multinational brand, Adidas.

The footwear industry is enthused with this move since an investment like this would serve as a catalyst for more such ventures.

According to industry sources, this portends a trend with a flow of investments from Taiwan and China as footwear manufacturers plan to diversify production facilities.

Large multinational brands that source products from these countries are planning to widen their source base. Also, the European Union is considering to slap manufacturers in China and Vietnam with anti-dumping duties.

This would affect even European and American companies that have production facilities there.

The companies are looking for new investment opportunities and India is well set to become a destination for such investments.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Aditya Birla Group rules out foray into steel making

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line