WL Ross Adds on in Vietnam

By Staff -- Home Textiles Today, 6/25/2007 12:00:00 AM

New York —

Investor WL Ross & Co. and his International Textile Group (ITG) have committed to three joint ventures with clothing and textile manufacturer Phong Phu Corp., based in Ho Chi Minh City, Vietnam.

WL Ross and Phong Phu will "explore various real estate-related" projects, and WL Ross may help fund Phong Phu in an IPO, (initial public offering).

ITG will "consider up to $100 million of operating support" to expand on its existing $80 million cotton fabric and apparel joint venture with Phong Phu in Da Nang, Vietnam.