Hong Kong’s Texhong Textile Group us one of the world’s largest core spun yarn suppliers. In the year ended December 31, 2015, Texhong Textile’s total sales increased by approximately 10.5 per cent, reaching a record high as compared with the same period last year.
Continuing its expansion strategy, Texhong is set to increase production capacity through self-development and mergers and acquisitions. It had a total of approximately 2.20 million spindles and 572 looms at the end of 2015.
The company plans to develop a textile industrial chain platform in Vietnam. It has also acquired part of a jeans wear manufacturing group’s workforce as well as equipment in China and Cambodia. This will help the company in the form of invaluable experience for setting up the jeans wear business in Vietnam.
With its two yarn projects in Vietnam and China expected to begin in the second and third quarters of this year, spindle capacity will further increase by approximately 28 per cent to 2.81 million spindles — 1.57 million spindles in China and 1.24 million spindles in Vietnam. The company is expected to begin its second phase of construction of a grey fabric factory, a dyeing factory and a garment factory in Vietnam.