Toray invests in Hong Kong knitter

Japanese Toray Industries has agreed to acquire shares in Hong Kong based Pacific Textiles Holdings to pursue its global strategic expansion and synergy effects through supply chain integration and collaboration.

Toray has signed a share purchase agreement today to acquire 28.03% stake in Pacific Textiles from Far East Asia Limited, a company solely owned by Mr Ip Ping Im, a director of Pacific Textiles, and from his wife, Mrs Ip for a total consideration of HK$ 4,053,940,000. Closing is expected to occur mid-July 2017.

Customised knitted fabrics

Engaged in the manufacturing and trading of textile products since 1997, Pacific Textiles is now a leading manufacturer of customised knitted fabrics with a focus on complex, value-added fabrics.

Its principal manufacturing facility is located in Panyu, China, and is well-equipped with advanced production facilities, including a scalable water treatment facility and cogeneration power plant. In addition, it also has a manufacturing plant in Vietnam.

Pacific Textiles and Toray have been developing new fabrics together, and Pacific Textiles has been indirectly supplying fabrics to Toray.  




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