ZOJE Sewing Machine Group Signed Cooperation Agreement With Daewoo Sewing

March, ZOJE Sewing machine Limited by Share Ltd and Zhejiang Daewoo sewing equipment manufacturing Co., Ltd. sign The framework agreement on the strategic cooperation of embroidery machines.

The agreement confirms that the cooperation between the two sides is: ZOJE shares will buy 51% of the shares of Daewoo sewing equipment manufacturing Co., Ltd., Zhejiang Daewoo sewing equipment manufacturing Co., Ltd., which is held by cash in Jiaxing, and the transfer or lease of Zhejiang Daewoo related embroidery machine business assets to Jiaxing Dayu sewing equipment Manufacturing Co., Ltd. and stop the embroidery machine after the completion of the transfer of shares. business To carry out the existing embroidery machine branch of ZOJE stock and the existing embroidery machine technology and sales channels of the European ZOJE limited liability company are placed under the Jiaxing Daewoo sewing equipment manufacturing Co., Ltd., ZOJE shares are no longer cooperating with any third party for embroidery machine production and marketing or investing in embroidery machines separately. industry 。

Zhejiang Daewoo sewing machine built in 1998 Manufacture Ltd. is a high-tech enterprise specializing in research and development, production and sales of computerized embroidery machines. The company now has two production bases in Jiaxing and Zhuji, with more than 400 employees and 50 patents, producing more than 4000 sets of computerized embroidery machines.

After the impact of the global financial crisis, the pattern of embroidery machine industry has undergone profound changes. Structural adjustment This is particularly important. The industry has ushered in unprecedented opportunities for development. ZOJE and Daewoo are joining hands. Based on the principle of mutual complementarity and mutual benefit, the two sides plan to improve the industrial chain through three to five years' efforts to enter the middle and high-end customer market in all directions, and establish a risk defense mechanism, so as to make the restructured Jiaxing Daewoo sewing equipment manufacturing Co., Ltd. become the leading enterprise in the embroidery machine industry in the country.