Luen Thai Holdings Limited, one of the leading apparel developer and supply chain service suppliers, announced the acquisition, through its wholly-owned subsidiary, of a 50 percent equity interest in On Time International Limited (“On Time”), a company engaged in the design and trading of apparel business (“Acquisition”).
Headquartered in Hong Kong with offices through out the Asia Pacific regions, On Time was established to carry on the business of design and trading of multiple apparel products. On Time's major customers include many renowned international brands with strong presence in the European markets.
The Acquisition is in line with Luen Thai's strategy to expand its apparel business by way of selective acquisitions and joint ventures. The Acquisition will give Luen Thai a significant presence in Europe for further expansion in the region. It will further consolidate Luen Thai's leading position in the apparel industry.
Commenting on the Acquisition, Henry Tan, CEO of Luen Thai, said, The Acquisition complements with Luen Thai's business model. Particularly like On Time's strong management team, its capability in design & development and ability in servicing customers with short lead-time.
Company supply chain and manufacturing platform will further drive On Time's business with crossing-selling opportunities. Acquisitions will continue to be one of the growth engines, as Luen Thai is becoming an industry consolidator. We will continue to seek acquisition targets which will help maximise the return to shareholders.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
