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Veken to forge partnership with Wuhan No.1 Textile Group
05 Jul '06
1 min read
Ningbo based Veken Group will form a strategic partnership with state-owned Wuhan No.1 Textile Group Ltd, which generates revenue of RMB3 billion a year.
Wuhan No.1 Textile Group is the first textile enterprise in Hubei province to record total sale of about RMB0.7 billion; however, the company suffered loss of several million yuan.
Senior officials of Veken said that Wuhan No.1 Textile Group produced such cloth materials as required by Veken; moreover, Veken could build its units by using Wuhan No.1 Textile Group's land, which is worth around RMB0.3 billion.
Wuhan No.1 Textile Group is the first textile enterprise in Hubei province to record total sale of about RMB0.7 billion; however, the company suffered loss of several million yuan.
Senior officials of Veken said that Wuhan No.1 Textile Group produced such cloth materials as required by Veken; moreover, Veken could build its units by using Wuhan No.1 Textile Group's land, which is worth around RMB0.3 billion.
Fibre2fashion News Desk - China
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