ITG and China Ting Plan Plant
December 13, 2004,
International Textile Group (ITG) has entered into a joint venture with Hong Kong-based China Ting Group to build a dyeing and finishing plant in the Linping Industrial Area of Hangzhou, China.
ITG also will build a warehouse and distribution center in the same complex to support its growing business initiatives in the region. The combined investment will be $20 million.
The plant will operate under the Interior Fabrics division of ITG and is scheduled to be online by the end of 2005.
At the same time, China Ting has entered into a licensing agreement with ITG to develop “Burlington House Retail” as a free-standing home furnishings store concept in China. The first prototype, in Linping, has been opened and is about 2,500 square feet. By the end of 2005, the companies expect to open 25 stores which will range from a 400-square-foot store-in-a-store up to 2,500 square feet.
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