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Chinese firm to set up yarn manufacturing in Turkey
03
May '13
Chinese textile producer Texhong Textile Group Limited will set up a US$ 180 million yarn manufacturing plant in Turkey’s western province of Balikesir.
 
For the purpose, Texhong has signed an agreement with the Balikesir Organized Industrial Zone administration.
 
At the signing ceremony, Texhong CEO Hong Tianzhu said Government authorities in both Ankara and Balikesir have been extremely helpful and have facilitated the company’s investment in Turkey.
 
Texhong will make the investment in three stages and the construction of the plant will begin this year.
 
Initially, the yarn manufacturing plant will employ 500 workers and once fully operational, it will employ about 1,500 people.
 
The commencement of yarn manufacturing will enable Texhong to reach European markets via Turkey.
 
Incidentally, Texhong is the first Chinese company to invest in Balikesir province.
 
Texhong Textile Group Limited was founded in 1997 by Mr. Hong Tianzhu.  The Group is principally engaged in the production and distribution of quality yarn, grey fabrics and garment fabrics, especially of high value-added core-spun yarn and fashion cotton textiles. Now it is one of the largest core cotton textile suppliers in the world and is a leading textile enterprise with focus on manufacturing high value-added core-spun cotton textile products. 
 

Fibre2fashion News Desk - India

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