NEW CHINESE INVESTMENT MAY HELP VIETNAM OVERCOME YARN DILEMMA
March 9th, 2015
The Hong Kong unit of Luthai Textile Co Ltd, China’s leading producer of yarn-dyed fabric and shirts manufacturing, has informed its shareholders of a plan to invest USD150 million building a new Vietnam-based textile plant. The factory, whose location has yet to be disclosed, would have 60,000 spindles, with an annual output of 30 million metres of yarn-dyed fabric. With the project, which had yet to be approved by the Vietnamese authorities, Luthai wants to escape rising wage levels in China and “efficiently integrate domestic and foreign resources to avoid ...
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