China : Nylon firm seeks Australian investments

　　Australian investors are likely to expand Mesbon China Nylon Ltd, by financing a public offering of US $20 million.
A total of 40 million fully paid ordinary shares at $0.50 per share will be issued by the Chinese yarn spinning company.

　　Funds raised will be utilized for expanding the manufacturing unit, which is already planning production in 2008.

　　Mesbon China Nylon Ltd is considered one of the top five producers of superior quality nylon yarn in China. Moreover, it is the largest enterprise in Zhejiang Province, which is known or being the center of textile manufacturing industry in east China.

　　The company produces nylon yarn not only for industries in China but also for countries like Germany, Brazil, Italy, Israel and Turkey. The present move into Australia will play a very important part in capturing the global capital market.