Local textile company opens new factory and launches worker shareholding programme

Cape Town-based bedding and linen manufacturer Sheraton Textiles (Sheraton) on Monday officially inaugurated its new factory and launched its Workers Trust employee share ownership programme (ESOP). The company is currently 100%-owned by national development finance institution the Industrial Development Corporation (IDC), which invested R140-million in the establishment of the new, state-of-the-art, factory, which greatly increases the company’s efficiency and competitiveness. The ESOP will ...