Coats puts BD on global garment trade \\\'heat map\\\'

Jasim Uddin Haroon | Published: October 19, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Paul Forman

Bangladesh's business has gone from strength to strength in recent years and has attained significant improvements in many key indicators including employment generation.
The UK-based Coats, a global leader in industrial thread, conducts annual global employee engagement survey and Bangladesh has experienced the most significant improvement in the indictors.
In 2013 survey, the engagement score was 87 per cent, up from 49 per cent in 2010.
Paul Forman, Coats global CEO, disclosed findings of the survey to the FE. Forman is now in Bangladesh on a two-day visit.
Coats plc, the world's leading manufacturer of industrial thread and consumer textile crafts, has been operating in the country since 1989.
Coats, a nearly 260-year old company, has joint venture thread producing plant with local AK Khan Group with two factories, one in Chittagong and the other in Gazipur.
The Coats global CEO will join a function designed to mark 25 years of its operation in Bangladesh. The gala event in Dhaka will take place today (Sunday) to be attended by over 400 local customers and suppliers.
Mr Forman said the global apparel sourcing sector can be interpreted as a 'HEAT MAP', with Bangladesh being one of the main hubs in the hot spot of South Asia.
He said market dynamics of the global apparel sector are being driven by the longer term mega trend of the growth of the Asian middle class, as the Asia-Pacific region moves from being primarily a manufacturing base to the world's largest consumer market.
He said one in five garments on the planet is held together using Coats' thread and it had launched its business in Bangladesh in right time.
The CEO said the ready-made garments (RMG) industry has been the mainstay of Bangladesh's economic growth since Coats began business in Bangladesh 25 years ago when exports were worth only US$624 million and the sector employed 320,000 people.
By 2004, exports had grown to US$6.4 billion and the sector employed 2.0 million people.
This year exports are expected to fetch over US$25 billion and employment will reach over 4.0 million people.
Coats, which is the second largest and fastest growing global zip manufacturer, will set up a new zips factory in Chittagong.
The Coats CEO said opening of the new state of the art zips factory in the port city will facilitate Bangladesh's clothing and footwear business.
"The new factory will open in the early part of 2015 and is being established in response to the growing demand from global consumer brands manufacturing apparel and footwear in Bangladesh," he said.
He said the opening of our new world class zips factory is a demonstration of our commitment to an ever-growing presence here.
This has been achieved through its highly successful joint venture in Bangladesh with the AK Khan Group.
Coats Bangladesh produces many of newest and most innovative products including flame retardant threads, Hemseal (adhesive thread for hems), Eloflex (thread with high extension properties for use in stretch fabrics), Aquamelt (water soluble thread for temporary stitching applications) and Drybond (water resistant, strong and durable anti-wick threads for use in sports equipment).
jasimharoon@yahoo.com