Beximco Group CEO said plans were to set up the JV with a Chicago-based company, while they were planning to invest $20 million for the mask-making factory in Detroit
Beximco Group, a manufacturer and exporter of clothing goods and medicine, will set up a factory in Detroit to produce masks as its demand is on the rise in the United States due to the Covid-19 pandemic.
“We made a long term strategy to put up world class manufacturing facilities supported by the best talent. The intention is to become one of the world's three best personal protective equipment (PPE) suppliers in the next 3-5 years,” Syed Naved Husain, CEO of Beximco Group, told Dhaka Tribune.
Beximco is supplying large quantities of world standard PPEs, which are tested and approved by the Directorate General of Drug Administration (DGDA) and in accordance with standards established by World Health Organization (WHO), said Naved.
On Monday, Beximco exported 6.5 million PPE gowns to US brand Hanes for ultimate delivery to the Federal Emergency Management Agency (FEMA).
"We were then approached by several top global PPE manufacturers. We will establish a joint venture (JV) company in Detroit as the city is a huge buyer of PPEs and top officials of the State of Michigan wants to sponsor and support this project," said Naved.
The Beximco Group CEO said plans were to set up the JV with a Chicago-based company, while they were planning to invest $20 million for the mask-making factory in Detroit.
The company will initially supply N95 masks in Detroit before expanding to other US states, he added.
Due to US state government buyback guarantees and support, as well as Beximco’s global branding with major US customers like PVH, Target, Zara, Calvin Klein, and Tommy Hilfiger, the capital will easily be raised by suppliers credit, international financing and more, Naved mentioned.
Beximco was previously working with a Chicago-based company in hopes of making clothes in the US with a factory in Detroit, an international media reported.