 |
|
  |
2005-4-1 09:35:00 a.m. HKT, XFNA
China's Texhong Textile to double production capacity in 2005 - report
|
| |
BEIJING (XFN-ASIA) - Texhong Textile Group Ltd (HK 2678) will spend 240
mln yuan to double production capacity this year, mainly by acquiring
manufacturing facilities from moribund state-owned firms at bargain-basement
prices, the South China Morning Post reported, citing the company's chairman
Hong Tianzhu.
The Hong Kong-based newspaper said the company, which produces spandex,
will raise production capacity to 400,000 spindles this year, after
increasing capacity by 75 pct to 203,324 spindles last year.
The company plans to lease five state-owned factories, expand an existing
plant and build a new one that will start operating in October. All the new
facilities will be in Xuzhou, Jiangsu province.
(1 usd = 8.3 yuan)
bjburo@xinhuafinance.com
amj/dk
MMMM
AFN |
| |
News Provided by XFNA |
| |
|
| Copyright(C) AASTOCKS.com Limited 2000. All rights reserved |
| |
|
|
|
