Australia-based Montgomery Wools has acquired complete control over Suqian Asia Textile, a carbonising plant in China. Montgomery Wools has bought out the Chinese joint venture partner of Suqian Asia Textile, thus making it a 100 percent Australian-owned trading and processing firm.
Suqian Asia Textile is located on 20 acres of industrial land in Suqian, Jiangsu province, China and has a yearly carbonising capacity of 4000 tonnes.
The investment will help the Australian company to establish itself in China as a market leader in processing and trading. The management of Suqian has also been taken over by a new team.
Fibre2fashion News Desk - India
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