Nextil has proceeded to open and start operations of its new elastic fabric factory in Guatemala, with the final objective of generating a turnover of 100 million euros annually, as the company reported this Thursday to the National Securities Market Commission ( CNMV).

The firm has successfully started the first fabric productions on its different circular and rectilinear technology machines in the factory, to meet firm orders from some of its main clients. In the coming days, the start-up of all the dyeing and finishing machinery, as well as the rest of the auxiliary facilities, will continue.

The factory, located in the municipality of Fraijanes, has been designed from scratch to be able to achieve, in the first phase, an annual production of up to three million yards and a turnover of more than 30 million dollars (27.9 million euros ).

The facility has a water treatment plant, already operational, designed to comply with international standards, ensure respect for the environment and promote sustainability throughout the fabric production chain, including the dyeing process.

With an investment already made of more than 21.5 million dollars (about 20 million euros), the new plant has an initial covered area of ​​more than 12,000 square meters where the different areas of weaving, dyeing, finishing, a raw materials warehouse, a finished product warehouse, a laboratory and offices for technical and administrative staff.

As a consequence of the different commercial agreements and orders that have been negotiated during the first months of the year with Nextil’s regular customers within the American market and the group’s commercial growth strategy, the company expects to increase the production load progressively until completing the maximum capacity of the plant, with an approximate production of 10 million yards and a turnover of around 110 million dollars annually (102.4 million euros).

Likewise, Nextil works on new alliances with producers, clothing companies and international clients established in the area of ​​influence of Guatemala.