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Foreign buyers shift orders to big companies
20
Nov '08
Textile industry in China is going through a lean phase, adversely affected by lack of liquidity and shortage of demand. Experts believe that the SMEs are the worst hit.

However, big enterprises have less to be worried about. Insiders say that large-scale companies are attracting better orders from overseas.

Analysts say, as small businesses carry the risks of closure and untimely delivery, foreign buyers are transferring orders to large enterprises, now. Thus, big manufacturers are getting flooded with orders, which is even compelling some of them to raise their production capacity.

Shandong Luthai Textile Co Ltd is one such firm that has received even larger orders in 2008. Insiders inform that Luthai is looking to enlarge its production.

Besides, Company is also known for its high-end products. At present, Luthai is the top player in China's yarn-dyed industry. Luthai also ranks first in sales, total profits, and total export amount. Reportedly, 80 percent of its products are exported, accounting for 80 percent of high-grade yarn-dyed fabrics in the world.

Analysts say that although Luthai's exports have not been affected till now, it is hard to predict the situation for 2009. Experts believe that export performance of the Company will weaken, if the market continues to deteriorate.

Fibre2fashion, News Desk - China

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