Monday, November 22, 2004
Bloomberg
Wilbur Ross, Steel Winner, Bets on China Textiles as Quotas End
Wilbur Ross used U.S. government protection to merge four bankrupt steelmakers into a company so profitable he's selling it for $4.5 billion.
Now, the billionaire investor is embracing trade, not trade barriers, in his latest venture into a U.S. industry that's under pressure from international competition -- textiles.
Ross's new company, International Textile Group, is helping Chinese producers sell to the U.S., planning a factory in Guatemala, and expanding joint ventures in Turkey and India. That's putting him at odds with textile makers such as Milliken & Co., which asked President George W. Bush to impose new import curbs when worldwide quotas on clothing trade expire on Dec. 31.
Read More
<< Back to Previous Page |
|
|
|
|
|
