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Rifa Holding plans two new projects
03
Sep '08
Since the beginning of 2008 textile enterprises have been going through a rough patch, and are trying hard to maintain their position in the international market.

Rifa Holding Group, one of the strongest textile machines manufacturers in China, is no exception. Though the overall performance of the Group is satisfactory, it is also struggling to keep its profits.

Experts have repeatedly warned enterprises, the only way to secure their future was to upgrade product quality through advanced technology and keep up with international trends.

Thus, Rifa has decided to take a few aggressive steps that will help recover losses and ensure a bright future.

Recently, the Group announced its plans to develop two new, high-tech projects.

Firstly, company will put up a base to manufacture high-speed textile machines technology which needs an investment of 360 million yuan.

Officials explain that this technology can increase the speed from 100,000 turns per minute to 150,000 turn per minute. Besides, currently, no other enterprise in China is producing these machines, thus, providing Rifa with a huge advantage.

Second project is to start production of new seamless-knitting-underwear machines, so as to cater to the top-grade seamless innerwear industry in the world.

Sources inform that total investment of the Company for these two projects will reach around 450 million yuan.

Fibre2fashion News Desk - China

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