The Australian subsidiary of German wool combing mill Bremer Wollkämmerei AG has set up a joint merger with textile maker Longkou Kaisheng Textile Company Ltd from Shandong province in China in order to access the Chinese market for the Group.
The Longkou Kaisheng Textile Company Ltd is a stock exchange listed company that specialises in textiles, aluminium products, and wine growing and in recreational facilities. Currently, it operates a small wool combing plant.
The main objective of this joint venture is to run the combing plant with the machines from the former Geelong Wool Combing, Australia. This provides opportunity for BWK to continue using the Geelong Wool Combing machines without having to invest in land and buildings.
BWK Australia will provide machines to Longkou Kaisheng's wool combing facility in Shandong. The new venture is anticipated to be operative in the first quarter of 2007.
marketing@alchempro.com
