Dai Cat Tuong is a textile manufacturer in Quang Ngai Province

Quang Ngai Province

Quảng Ngãi is a province in the South Central Coast region of Vietnam, on the coast of South China Sea. It is located 883 km south of Hanoi and 838 km north of Ho Chi Minh City.-History:...

, Vietnam

Vietnam

Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...

. After several years of making losses, it was acquired by Vinatex

Vinatex

The Vietnam National Textile and Garment Group is a large Vietnamese textile company, and one of Vietnam's largest companies overall...

 as part of the latter's strategy of decentralization of its production for 39.876bn VND.

The company has a factory in Tinh Phong Industrial Park (khu công nghiệp Tịnh Phong) in Son Tinh District of Quang Ngai Province

Quang Ngai Province

Quảng Ngãi is a province in the South Central Coast region of Vietnam, on the coast of South China Sea. It is located 883 km south of Hanoi and 838 km north of Ho Chi Minh City.-History:...

.

Vinatex has announced it will invest around 50 billion VND to renovate the factory, buy machines, build dormitories for the workers, and increase employment to 3000.

History

Dai Cat Tuong was founded in March 2005 with capital 38 billion VND, mostly borrowed with a preferential interest rate from the province's policy bank. It used to employ 1300 workers before it started to make losses. Strikes have occurred since 2008 because of unpaid wages.
Production was suspended in 2010 and the bank tried to sell the factory.