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Phillips Van Heusen

New York Firm Jumps to Invest in Garment Factories

Outdated, poorly managed factories can be fixed in ways that help workers, the environment and socially conscious investors willing to provide the funding, according to a new firm that plans to invest in Bangladesh and elsewhere.Oliver Niedermaier, the founder and chief executive of New York-based Tau Investment Management LLC, said he saw a need for equity-style investments in rundown factories including those in the garment industry well before the April collapse of the Rana Plaza factory and the November fire at a Tazreen Fashions factory in Bangladesh.However those events, along with worker protests and plans by retail and apparel groups to push for factory improvements in Bangladesh, have brought the issues to the spotlight."When we started setting up Tau as a firm, one of the first areas we were looking at was the garment manufacturing industry because we view it as one of the biggest turnaround opportunities in history," Niedermaier told Reuters on Friday. "Unfortunately, it is ...

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