Home / Knowledge / News / Textiles / Fountain sews thread cos Goldlink & Goldfolk in its fold

Fountain sews thread cos Goldlink & Goldfolk in its fold

Jul '05
Global leader in manufacturing of knitted fabrics, Fountain Set (Holdings) Limited announced that the Group has fully acquired sewing threads business subsidiaries Goldlink Thread Limited and Goldfolk Limited.

“Full ownership of our sewing threads business will enable us to fully leverage the strengths and resources of the Group, and further enhance the quality of service to existing and future customers,” said Mr HA Chung Fong, Chairman and Managing Director of Fountain Set (Holdings) Limited. “I am certain that great synergy will be achieved among our different subsidiaries, especially since our fabric side's client base would be in a position to use Goldlink's sewing threads.”

The Group entered into a sale and purchase agreement with Mr CHOW Pong Sing, previously a director of Goldlink, Goldfolk and Dongguan Goldlink Thread Factory, Co., Ltd (“Dongguan Goldlink”) and shareholder of Goldlink and Goldfolk. Pursuant to the agreement, the Group agreed to acquire 2,000,000 shares of Goldlink (representing 40 percent of its total issued and paid up share capital) and 4,000 shares of Goldfolk (representing 40 percent of its total issued and paid up share capital) respectively from Mr. CHOW.

The acquisition was completed by the payment of HK$9,000,000 in cash, on July 20, 2005 and the Group now owns the entire equity interest of both Goldlink and Goldfolk. Goldlink and Goldfolk were incorporated in Hong Kong in 1989 and 1997 respectively and were non-wholly owned subsidiaries of Fountain Set before the acquisition.

Must ReadView All

Pic: Shutterstock

Textiles | On 23rd Sep 2020

Jakarta eyes 0.4% growth in textile-chemical-pharma sector

Indonesia has targeted 0.4 per cent growth in the chemical,...

Pic: Shutterstock

Apparel/Garments | On 23rd Sep 2020

Sri Lankan apparel sector could lose 100,000 jobs in 2020

The Sri Lankan apparel industry could lose up to 100,000 jobs this...

Pic: Shutterstock

Retail | On 23rd Sep 2020

Ascena Retail achieves key milestones in restructuring

The US bankruptcy court for the Eastern District of Virginia recently ...

Interviews View All

Top executives, Association

Top executives

'Support and Outreach' huge relief for MSMEs

Cyril Pereira, Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Textile Industry, Head honchos

Textile Industry
Head honchos

We are staring at livelihood crisis for weavers

Christiane Thies,

Christiane Thies

Founded in 1892, Thies has concentrated on the fabrication of high-quality ...

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Ronald Van Den Broek,

Ronald Van Den Broek

Headquartered in Japan, Mimaki Engineering Co. Ltd. manufactures and...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Anjali Bhaskar, Samatvam

Anjali Bhaskar

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

September 2020

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

Advanced Search