Qingdao Forest Textile Co Limited, the Sino-Japanese joint venture located in Jimo Qingdao environmental protection Industry Park, started its operation on September 4. The annual production of sewing thread is expected to reach 2,520 tons.

Qingdao Forest Textile Co Ltd is established with a total investment of US $2.655 million. It has been set up by Qingdao Enterprise Adjustment Service Center, authorized by the SASAC of Qiongdao City, Japan Forest Company and Qingdao Forest Three Ring Ltd.

The agreement was inked in June last year. Japan Forest Company invested $2.655 million, Qingdao Enterprise Adjustment Service Center put in $1.056 million and used parts of production equipments from an already closed cotton mill. Qingdao Forest Three Ring Ltd funded $164,000 through land use rights.

The company plans to export its main products to the European and Japanese markets and also focus on research and development of core sewing threads and other high-end and unique products.
 
Fibre2fashion News Desk - China