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2008-1-30 05:54:00 p.m. HKT, XFNA
Yue Yuen, Mainland Headwear to invest in Vietnamese headwear firm
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HONG KONG (XFN-ASIA) - Mainland Headwear Holdings Ltd, a China-based
headwear manufacturer, said it has agreed to invest 2.88 mln usd in
Vietnamese headwear manufacturer Keen Idea Group Ltd.
Mainland Headwear said it will own a 36 pct stake in Keen Idea and become
its largest shareholder after a capital restructuring in the Vietnamese firm.
Yue Yuen Industrial (Holdings) Ltd, a mainland-based athletic shoemaker,
and Large Forever Ltd will own 34 pct and 30 pct, respectively, of Keen Idea,
it said.
It did not reveal the capital contributions of Yue Yuen and Large Forever.
Keen Idea owns a 10,752 square-meter production facility in Ho Chi Minh
city.
It manufactures headwear for US and Japanese customers.
Keen Idea is to expand its monthly production capacity to one million
hats hats by the end of this year from the current 250,000.
( 1 usd = 7.8 hkd)
george.ng@xfn.com xfngn/xfjamesa
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