China Linen Textile Industry Signs USD3 Million Deal With Italian Company
Chinese fabric manufacturer, China Linen Textile Industry, has announced that its wholly-owned subsidiary, Heilongjiang Lanxi Sunrise Linen Textile Industry Company, has signed a contract with an Italian company to deliver approximately 1.4 million meters of semi-bleached linen fabric.
The contract is valued at approximately USD3.05 million and the first shipment will be made in December 2009 and a total of five shipments will be made to complete the contract by May 2010.
The customer, Tanny Tex S.R.L., based in Prato, Italy, is a leading seller and distributor of linen and knitted fabrics in the northern Italian region. China Linen Textile provides the entire Tanny Tex inventory of linen products and has supplied the Italian company for five years.
According to Gao Ren, the chairman and chief executive officer of China Linen Textile Industry, this year's order showed an increase of 10% over the same period last year, and, since Tanny Tex is continuing to expand its business, he expects this to result in higher production and sales for China Linen Textile in 2009 and 2010.
