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29th October 2019, Obertshausen

Karl Mayer celebrates partnerships at Vietnam event

Karl Mayer and Illies thank their customers for the good partnership with a festive dinner table. © Karl Mayer

Karl Mayer and Illies thank their customers for the good partnership with a festive dinner table. © Karl Mayer

To honour the loyalty of their clients, Karl Mayer and Illies invited globally leading textile industrialists and international investors of the Vietnamese textiles industry to take part in a joint exclusive event, which took place in Ho Chi Minh City on 11 October 2019.

The invitation to this get-together met with a great response, according to the companies. Around 90 participants from 13 countries attended the festive meeting. Most of the guests came from Vietnam, Korea, Taiwan and China. And some of them undertook the journey from Europe.

“The internationality of the guests can be explained by the specific nature of the Vietnamese market,” the leading German manufacturer explains. “Especially in the last ten years, a lot of global players, mainly from Asia, invested in Vietnam, in order to benefit from the favourable manpower situation.”

Vietnamese textiles industry

With exports of US$ 36.2 billion, 2018 was the most successful year for the Vietnamese textiles and clothing industries. Considering the trade war between China and the USA, the year 2019 brought both chances and challenges for Vietnam. In the first six months, the export of the sector to the USA increased by 29%. The sales revenues in the US American market amounted to around US$ 7 billion. This represents 46% of the total revenues.

The country has high exports but low imports. To reduce the surplus, US President Donald Trump threatened to impose punitive tariffs on Vietnamese products at the G 20 Summit in June 2019. Additional levies would have a great impact on the Vietnamese economy, because the USA is the most important market for this Asian country.

The local textiles and clothing market is dominated by imports from China. International textiles groups still set up subsidiaries and affiliated companies. Today, the value of foreign direct investments in the country’s textiles industry exceeds US4 18 billion. This situation is also reflected by the warp-knitting sector, the company adds.

Reliable partners

Karl Mayer and Illies have closely accompanied the development of the country to the world’s third largest exporter of textiles and apparel. Karl Mayer assists its clients with innovative textile machines, with technology know-how, competence in textile development and support in tapping market potential. The company has already carried out more than 1,100 machine installations at more than 100 customers in the Vietnamese economic area.

“Together with our partner Illies Engineering Vietnam, we have a strong team that offers customers optimal support in the areas of machine sales, after-sales and service,” commented Rainer Müller, Sales Director Asia at Karl Mayer.

“Our goal is to make our customers successful. We are working hard to develop new, innovative products with a high level of customer benefit. Only recently at ITMA in Barcelona we presented innovative machines, textile developments and digital solutions, which should help our customers to create new products and open up new markets,” said Arno Gärnter, Karl Mayer’s CEO, in his speech at the customer event.

www.karlmayer.com

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