Home / Knowledge / News / Textiles / Matches Inc buys chemical fiber producer
Matches Inc buys chemical fiber producer
20
Dec '10
Matches Inc announced the acquisition of Golden Stone Rising, Limited, a British Virgin Islands Company that, through its PRC subsidiaries and controlled companies, is engaged in the production, sale and distribution of polyester fiber in China.

The PRC operating companies controlled by Golden Stone are Suzhou Jinkai Textile Co., Ltd, and Suzhou Hangyu Textile Co., Ltd. These businesses produce pre-oriented yarn as well as draw texturing yarn, in various sizes and configurations.

By the terms of the share exchange agreement, Matches Inc will issue 170,948,684 shares of Matches common stock, constituting 95.25% of the Company.

70,000,000 shares will be issued at the closing of the transaction and the remainder will be issued after the Company completes an amendment to its articles to increase its total authorized common shares. The transaction is expected to close in the coming week.

Matches Inc


Must ReadView All

Textiles | On 29th Jun 2017

Indian textile industry will reach new milestone by 2020

By 2020, textile technologies will be highly advanced not only with...

Alessandro Zucchi; Courtesy: ACIMIT

Textiles | On 29th Jun 2017

Alessandro Zucchi succeeds Carabelli as ACIMIT president

The members’ assembly of the Association of Italian Machinery...

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search