Home / Knowledge / News / Shandong Mingjun to use Sino Techfibre's synthetic leather
Shandong Mingjun to use Sino Techfibre's synthetic leather
23
Dec '09
Sino Techfibre Limited (“Sino Techfibre” or the “Group”), a leading producer of microfibre, polyurethane (“PU”) synthetic leather and pattern moulding paper (PMP) in the PRC, announced that the Group has clinched a major contract worth RMB45.1 million (the “Contract”) from Shandong Mingjun Textile & Garment Co., Limited (“Shandong Mingjun”), for PU synthetic leather to be used for the manufacture of belts and shoes. This is an entirely new PU synthetic leather product which was developed by the Group's R&D team.

Shandong Mingjun is our new customer based in Shandong Province which specializes in the manufacturing of fashion apparel, including those for student groups such as The Young Pioneers of China and the Communist Youth League.

Sino Techfibre is contractually obliged to deliver the belt and shoe materials to Shandong Mingjun before 9 December 2010. As such, the Contract is not expected to have a material impact on the Group's net tangible assets and earnings per share for the financial year ending 31 December 2009.

Said Mr Li Wenheng, the Group's Chief Executive Officer, “This is one of the more significant orders that we have seen in the fourth quarter of this year, in terms of quantity of PU ordered. We expect there will be more orders from this customer in FY2010. We are cautiously optimistic that this momentum will continue into FY2010.”

PU synthetic leather continued to be the Group's largest contributor of total revenue, comprising 46.3% of total sales in the first nine months of FY2009, whilst microfibre synthetic leather accounted for 36.9% and PMP made up the remaining 16.8%.

Sales from its major customer - The People's Liberation Army and the government sector – accounted for 18.9% of total sales in the first nine months of FY2009 (9M2008: 17.1%).

Sino Techfibre Limited

Must ReadView All

Textiles | On 24th Jan 2017

Textile industry demands relaxation of laws from Budget

The upcoming Union Budget 2017-18 should focus on relaxing certain...

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search