Aditya Birla signs contract with Hubei Jing Wei Chemical Fibre Co Ltd
04 Sep '06
3 min read
"We intend to ramp up the current capacity of 30,000 TPA to 60,000 TPA in the next one year. The JV will leverage upon the Aditya Birla Group's dominance in dissolving grade pulp production and Jing Wei Group's substantial presence in yarn spinning. Additionally, Hubei Jing Wei as a partner provides robust credentials to forge ahead with customers and will facilitate the smooth functioning of the new enterprise”.
States Mr. Lin Meizhuo, Chairman of the Fujian Jing Wei Group, “We are delighted to have the joint venture cooperation with Aditya Birla Group which will lead to substantial business growth for both the Groups in China.
The synergy between our strong presence in the textile spinning sector and Birla Group's leadership position in the VSF Industry will ensure achievement of benchmark levels of operational efficiency and product quality for Birla Jing Wei Fibre Company Limited. We are confident that it will soon become the leading VSF manufacturing operation in China”.
The JV agreement signed on 3rd September is subject to the requisite statutory approvals and the consequent transfer of various rights in favour of the JV Company.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.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)")
