MINSK, 17 May (BelTA) – The Belarusian company Mogotex has plans to increase its exports to non-CIS countries by six times by the end of the year 2020, Mogotex Director General Viktor Matiyevich said at a press conference on 17 May, BelTA has learned.
Mogotex is a participant of the state innovative development program for 2016-2020. “We have passed all the necessary expert evaluation stages. The total funding amounts to Br75.6 million. A half will be provided by the innovation fund. Mogotex is to cover the rest using its own funds or loans. The money will be spent to purchase new equipment and design innovative products. Plans have been made to install the new equipment by the middle of 2019 so that to reach the objectives by the end of 2020. One of the targets is to increase the exports to non-CIS countries by six times. We are interested in the markets of Germany, Finland, Norway, Sweden, the countries of Latin America, and also the United States,” Viktor Matiyevich noted. The company plans to export no less than 80% of its output.
Viktor Matiyevich also stressed that innovative products should account for at least 38% of the company's total output by the end of 2020. “We have plans to manufacture innovative workwear, fire protection uniforms, light and comfortable clothes for leisure, tourism, sports, decorative fabrics, including light-blocking fabrics for curtains,” Viktor Matiyevich explained.
Besides, the company aims to reduce the production costs. “Gas, electricity, and water account for some 22% of our production costs today. We expect that the new equipment will help us reduce the figure to 14-15%,” Viktor Matiyevich said.
Value-added per worker will also be increased by 2020.
The company is planning to increase the share of finished goods up to 40% of the total output by 2020. Mogotex previously produced mostly fabrics. “It is quite possible that we will reach the target of 40% even sooner than 2020. Today finished products make up 23-25% of our output,” Viktor Matiyevich said.
Mogotex was founded in 1973 and reincorporated as a joint-stock company in 2000. It is a major manufacturer of textile products in Belarus and in the CIS. The company makes fabrics for workwear and uniforms, rainwear fabric, lining fabric, decorative fabric, knitted fabric, finished workwear and home textiles. The company has a weaving mill, a finishing factory, a clothing factory, and other production facilities.
