Lectra announces subsidiary

Lectra, the Paris-based manufacturer of software, automated cutting equipment and other technologies designed for industries using fabrics, leather, technical textiles and composites, opened a new subsidiary in July: Lectra Vietnam. Lectra has had a presence in Vietnam for 20 years, but, “Thanks to 5.5 percent growth in the first quarter of 2016, Vietnam is one of Southeast Asian’s most dynamic economies,” says Daniel Harari, Lectra CEO. The transpacific agreement signed in February 2016 “will reinforce the attractiveness of the country, where Lectra has many customers, including very large Asian companies,” according to Harari. The apparel industry is vibrant in Vietnam, where exports reached $21 billion in 2014 and should grow by eight percent, attaining $29.5 billion in 2016.