Natco, Amtex Align for New Joint Venture
Furniture Today Staff -- Gifts & Dec, October 24, 2011
WEST WARWICK, R.I. - Multicategory home textiles house Natco Home is now adding bedding to its portfolio through its recent exclusive alliance with Amtex Ltd.
A fully vertical manufacturer based in Faisalabad, Pakistan, Amtex's joint venture with Natco calls for both the manufacturing and distributing of bedding products in the North American market under the name "Natco Amtex Home."
The joint venture was set to be finalized by end of September, following approval of certain Pakistani regulations and the completion of mutual due diligence.
Alan Ross, Natco Home's coo, said the company's domestic design, marketing and distribution capabilities combined with Amtex's size and state-of-the-art vertical manufacturing capabilities "will position this new company, Natco Amtex Home, as a major bedding manufacturer and supplier overnight."
He added that "strategically, this joint venture ... adds an exciting new product category for the group; it complements our significant China sourcing and production capabilities and further enhances our ability to be a quality low-cost provider of all soft textile products for the long term."
Additionally, it gives the group direct-to-store, pick-and-pack capability from both China and Pakistan.
"We have been working with Amtex Ltd. for over 15 years and the working relationship has always been excellent," Ross continued. "We are certain we will find further ways to cooperate and expand globally our manufacturing, sourcing and distribution platforms in the months and years to come."
Key members of Amtex's senior management team will be relocating to Natco's offices here.
Principles from both Natco and Amtex were at the group's showroom at 295 Fifth Avenue during the New York Home Fashions Market and introduced the joint venture.
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