Mozambique firm forward integrates into weaving & stitching

Yarn producer Mozambique Cotton Manufacturers (MCM) is planning to forward integrate by investing around $35 million to set up weaving, dyeing, stitching and other support facilities. MCM is a partnership between one Mozambican and three Portuguese companies and will export these textile goods to newer export markets on the African continent.

“Stakes in MCM are held by Intelec Holdings from Mozambique and Mundotêxtil, Mundifios and Crispim Abreu all from Portugal, which had earlier invested $20 to set up the yarn production unit,” Mozambican media reported.

MCM is currently exporting 100 per cent of its output to South Africa and also Portugal, and will now export to countries of the Southern African Development Community (SADC), including the US.