08:03 PM
After the decision of factory, At the beginning of this year, to stop producing its denim fabrics in the country, the company announced that it will have this line in its portfolio to offer to its clients.
“It should be noted that We will offer denim fabrics of very good quality and very competitive in terms of price that we did not have, thus expanding our offer of fabrics imported from Brazil”, according to the president of the company, Gustavo Alberto Lenis.
In a statement, it was explained that “the internationalization of Fabricato and the export vocation is based on its portfolio of drills and specialized fabrics and will be consolidated within the framework of the commercial and business alliance of Fabricato with the Brazilian textile company Capricornio, the second most important textile company in that country”.
In this commercial alliance it will be achieved that The two companies take advantage of their manufacturing advantages to serve the markets of Colombia and Brazil with the qualities and competitive prices that clients and end consumers require in denim, drills and specialized fabrics.
The Brazilian company Capricorn has a tradition dating back to 1946, and is recognized as the second largest denim producer in Brazil, in product portfolio and competitive prices, with productions of more than 6 million meters per month.
“Fabricato, for its part, will be able to serve with its offer of specialized drills and textiles, the Brazilian market that does not currently enjoy the portfolio and quality that Fabricato offers in these categories. Your products will reach that market through Capricorn. This way we will serve the largest market in the region,” Lenis noted.
Besides, Fabricato revealed the results of its operation in the first quarter of this year. The company observed a loss of $13,582 million, as a result of a textile market with contracted demand both nationally and internationally.
“The company remains optimistic as it executes strategies in product innovation, circular economy and process optimization that help to improve its competitiveness and the result of the period, which ensure business continuity and as an example of this, can be evidenced in the reduction of its costs and operating expenses year after year and in the transformation of production processes seeking the greatest efficiencies,” reads the quarterly report published in the Superfinanciera.
The Income from ordinary activities as of March 2024 totaled $68,458 million and decreased by 30.6% compared to the same period in 2023 when it reached $98,688 million. which respond to a market with contracted demand both nationally and internationally, however, the company remains optimistic as it executes strategies in product innovation, circular economy and process optimization that help improve its competitiveness.
