Mr. Wan Wai Loi, Executive Director (Chairman of the Board) said, “We are confident about the global textile market, especially in China. With the impending elimination of export quotas on China, we will proactively take advantage of the continuing migration of the garment industry in Asia, particularly in China, to expand our business as well as capture the growing demand of the domestic apparel market.”
Business Review:
During the reporting period, the Group continued to expand its production volume in both production facilities, namely, Panyu, Guangdong province (Panyu) and Avissawella, Sri Lanka.The production volume of its principal manufacturing facility in Panyu was 154 million pounds for FY2007, representing a y-o-y increase of 27%.
In order to meet customer demand and boost capacity, the Group significantly expanded its infrastructure and supporting equipment at Panyu including expansion of its cogeneration power plant and the completion of the Phase III of our water treatment plant in December 2006 that doubled its water treatment capacity from 20,000 to 40,000 cubic meters per day.
Following the acquisition of Textured Jersey Lanka (Pvt) Limited in late 2004, the Group has successfully doubled the production volume of the plant in Sri Lanka. The production volume in as at the end of March 2007 increased to 11 million pounds.
Moreover, as many of brand owner customers of the Group employ garment manufacturers based in Sri Lanka, the production facility in Sri Lanka strengthens the competitive position of the Group through geographic diversification.
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Pacific Textiles Holdings Limited
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