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China : Texhong Textile & Dow Chemical sign LOI for elastic fiber XLA tech & products |
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2006-6-29
China : Texhong Textile & Dow Chemical sign LOI for elastic fiber XLA tech & products
Texhong Textile Group Limited, a leading upstream high value-added core-spun cotton textile manufacturer in the PRC, announced that it has entered into a strategic Letter of Intent with Dow Chemical (China) the world’s leading chemical player.
The two parties will join hands in R&D to develop a new generation of elastic fiber XLA technology and product. This will boost the development of new textile fiber and products. Elastic fiber XLA is mainly applied in mid- to high-end yarn dyed/worsted fabrics, as well as casual wear fabric products.
Dow is a dominant player in the chemical industry. It offers a broad range of innovative products and services to customers in more than 175 countries, with sales reaching US$46 billion per year. Leveraging on its advanced R&D capability, Dow has developed a new generation of elastic fiber XLA.
It was launched in China in 2004 and well received by the market. Texhong, with strong R&D in core-spun yarn and cotton textile products, successfully developed XLA cotton core-spun yarn and elastic grey fabric to further diversified its product portfolio.
Mr. Hong TianZhu, Chairman of Texhong said, “We are honored to be one of the few business partners of Dow. This attests to Texhong’s niche and leadership in the industry and serves as recognition of our advance technology and capability.
Texhong and Dow have developed strong working relationship, with the two companies’ respective strengths complementing each other. Texhong made use of the elastic fiber of XLA provided by Dow for further processing and manufacturing, and the product received overwhelming market response.
In addition, with Dow’s highly efficient sales and marketing strategy and unrivalled brand awareness and strong clientele in the international fashion market, Texhong will benefit from this in promoting its XLA core-spun yarn and XLA elastic fiber to global textile purchasing channels. It will further extend Texhong’s distribution channels and benefit its long term growth.”
In the near future, Dow will continue to develop new XLA series products and provide them to Texhong for trial spinning and twinning with appropriate staff training to place Texhong abreast of its peers. Meanwhile, both parties will conduct exchanges on XLA elastic fiber and technology of spinning and twinning regularly. Texhong will also fully utilize its advanced technology in production and management of core-spun yarn to focus on the application and development of new generation elastic fiber of XLA. It will also expand its production scale, and promptly enhance the awareness of the new generation elastic fiber of XLA in the core-spun yarn elastic textile market.
Texhong Textile Group Limited is one of the largest high value-added core-spun cotton textile manufacturers in the PRC and is a leading textile enterprise focusing on manufacturing high value-added core-spun cotton textile products.
The Group is principally engaged in the manufacture and distribution of quality yarn, grey fabrics and garment fabrics, especially high value-added spandex stretch yarn and fabrics. The Group is currently operating 10 highly efficient manufacturing bases in Jiangsu and Zhejiang Provinces.
The Group has over 1,200 PRC and overseas customers, of which its sales network spans across the PRC, Europe, North America, Bangladesh, Hong Kong and South Korea.
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