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Related Keywords: aggressively building up production capabilities, begin full operation early next year, cost advantages, electricity and other costs are lower, free trade pact, labor, largest yarn suppliers, new yarn production line, Production costs, tariffs on yarns exported, Texhong Textile group, Trans Pacific Partnership signatory Vietnam

Texhong Textile Group, one of the world's largest yarn suppliers, has been aggressively building up production capabilities in Trans Pacific Partnership signatory Vietnam. For Texhong Textile Group, investing in Vietnam was a strategic move to circumvent the adverse impact of its home country not being part of the TTP. But now, even as uncertainty looms over the free trade pact amid open opposition by both major-party U.S. presidential candidates, the Chinese company is firmly committed to further expansion in its southern neighbor.

Related Keywords: acquired part of a jeans wear manufacturing, develop a knitting and dyeing business, entered into an agreement with Wah Fung Group, Hongkong based company, plan to develop textile industrial chain platform in Vietnam, Texhong Textile group, world largest core spun yarn suppliers

Texhong Textile Group a Hongkong based company and one of the world’s largest core spun yarn suppliers, as part of its expansion plan to develop a textile industrial chain platform in Vietnam.

The company has also entered into an agreement with Wah Fung Group, under which the company will invest in the latter. Besides, the two companies will also jointly develop a knitting and dyeing business in Vietnam — a crucial step for Texhong on its path to build a textile industry chain platform.

Related Keywords: fashion cotton textile, garment fabric, grey fabric, plunge in profit, prices, production and distribution, spun yarn, Texhong Textile group, weak yarn sales, yarn manufacturer

Texhong Textile Group Ltd, Hongkong listed yarn manufacturer engaged in the production and distribution of quality yarn, grey fabrics and garment fabrics, especially of high value-added core-spun yarn and fashion cotton textiles has posted a plunge in profits for the first half of this year.

The plunge in profit was mainly due to weak yarn sales prices in the mainland China market and the depreciation of the yuan against the US dollar, the company noted in its interim results filed with the Hong Kong Stock Exchange yesterday.