Indian footwear firm sets up tannery in Ethiopia
31/01/2013
It was commissioned towards the end of last year, the Hindu Times reported Farida chairman, Rafeeque Ahmed, as saying.
The company is self-sufficient in sourcing raw materials through its subsidiaries, and the Ethiopian unit has been set up through Farida’s subsidiary in Singapore.
Farida employs 7,000 people directly and almost double indirectly through the subsidiaries. It primarily targets exports, with Europe making up 47% of sales and Asia-Pacific and North America each accounting for about 27%.
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