The company co-operated with China Ting Group to invest in a dyeing and finishing plant in Hangzhou in December and is also planning to invest in a synthetic fabric plant.
China Ting Group has also entered into a licence agreement with ITG to develop Burlington House Retail as a home furnishings store in China.
ITG is increasing its stake in China at a sensitive time, as the United States is trying to block Chinese textile imports.
China and the United States failed to reach an agreement on their textile row on Monday at the 16th Joint Commission on Commerce and Trade, although the US has promised to be prudent when applying safeguards against Chinese textile exports. Before the meeting, two rounds of talks had already been held.
The US has applied special import quotas on seven categories of Chinese textile imports since late May, although global textile quotas were abolished on January 1.
In addition, US textile groups asked its government on Tuesday to impose import restrictions on more Chinese textile products, such as shirts, skirts, pyjamas and swimwear.
ITG's Ross, a financier who bought Cone Mills and Burlington Industries out of bankruptcy to form ITG, is famous for re-energising money-losing companies, something he has achieved in the steel and coal industries.
Ministry of Commerce - China
marketing@alchempro.com
