Buetec to invest 650 million FCfa to hit the European market
(Business in Cameroon) – Specialised in knitting, dying and sewing and promotional product market leader in Cameroon, Buetec has just announced a 650 million FCFA plan to target the European market where Buetec plans to export 100% made in Cameroon products by 2017.
According to the plan, 250 million FCFA are to be immediately invested to improve the company’s productivity and production capacity while 450 million FCFA will be subsequently used to increase production capacity to to meet export demands to Europe.
With these investments and exports to Europe, the Cameroonian company, which imports thread from India because of limitations on local thread in terms of knitting, plans to quadruple its sales in the next 5 years. Exports currently represent 60% of total sales. In 2014, the company announced 700 million FCFA in sales.