HTL to invest in China23 April 2002
HTL International Holdings Limited, Singapore, one of Asia's largest leather tanners and sofa manufacturers, plan to invest S$24.2 million (US$13.23 million) in China. They said S$19.4 million will be used to set up a wet-blue plant in Yangzhou, China. The balance will be used to expand the existing leather finishing plant in Kunshan, China. 'After careful consideration, we have decided to expand beyond Kunshan and invest in Yangzhou', said Phua Yong Tat, group managing director. The construction of the wet-blue tannery is expected to commence in April and trial operations are expected to start by December. The facility will support the Kunshan finishing plant by processing wet-blue to dyed crust for them. Planned capacity for the plant is about 5,000 hides a day.