Home / Knowledge / News / Apparel/Garments / Exceed to set up sportswear facility in Jiangxi

Exceed to set up sportswear facility in Jiangxi

03
Apr '12
Exceed Company Ltd, the owner and operator of "Xidelong" brand and one of the leading domestic sportswear brands in China, has provided additional detail pertaining to the agreement announced by the Company on February 17, 2012.

As previously disclosed, the Company had entered into an agreement with the municipal government of Ruichang City, Jiangxi Province, for the investment and construction of a sportswear manufacturing base on a parcel of land in Ruichang city, Jiangxi Province, PRC. Under this agreement, the Company would purchase a parcel of land of 400,000 square meters in Ruichang city, for a total consideration of RMB198,000,000, subject to municipal and administrative approvals. This parcel of land will be used for the construction of a new production facility, which is expected to be completed by the end of 2013.

The parcel of land is a prime piece of real estate within Ruichang Industrial Park West, located within close proximity to the office of the municipal government of Ruichang city, the Ruichang train and bus stations and the Ruichang Aimin Hospital.

Given its prime location in the center of the city, the parcel of land is priced at RMB330,000 (approximately $52,300) per Chinese acre. In addition, the city will incur costs in relocating current residents, conducting environmental cleanup, conducting surveys and rezoning the land before it will be available for development.

As previously announced, the Company has made a deposit of RMB46,800,000 (approximately US$7.4 million) as a performance bond in conjunction with the signing of the agreement.

The land will be officially purchased at an auction that will hopefully take place sometime later in 2012, after the government settles with the existing residents of the land.

The Company intends to establish a new operating subsidiary in Jiangxi Province and construct a new production facility on the purchased land in order to increase its internal manufacturing capacity and expand its control over the product development process from setting up the supply chain of raw materials, moulds and supplementary materials, to in-house production, to delivery.

Exceed Company Ltd


Must ReadView All

Pic: Shutterstock

Textiles | On 6th May 2021

China indefinitely suspends economic dialogue with Australia

The National Development and Reform Commission (NDRC) of China has...

Pic: Shutterstock

Retail | On 6th May 2021

Ireland announces new €5 million COVID-19 Online Retail Scheme

Ireland has launched a new round of the COVID-19 Online Retail Scheme ...

Pic: Shutterstock

Textiles | On 6th May 2021

Cotlook A index expected to drop by 6.18% by June: TexPro

The Cotlook A index is expected to decline by 6.18 per cent in June...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Indian apparel industry looks poised for slow death

Textile Industry, Head honchos

Textile Industry
Head honchos

Verticals like fast fashion won’t completely adopt personalisation on...

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

Dhruv Toshniwal & Udit Toshniwal,

Dhruv Toshniwal & Udit Toshniwal

Launched a year ago, Fashions Pvt Limited conceptualises and sees D2C...

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

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

Leave your Comments


April 2021

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


Advanced Search