Mutual Textiles Intends To Denounce 600 Million To HK $1 Billion 300 Million In Northern Vietnam.

In March 14th, 01382.HK announced that in order to meet future expansion and risk diversification, the company is preparing to choose a suitable location in northern Vietnam to establish a new production base.

Limited by the geographical conditions of site selection, the cost and production plan of building plants and environmental protection facilities (or with the market conditions at that time) will be estimated at about HK $600 million to HK $1 billion 300 million.

If the land acquisition plan is to be completed in the next financial year, the expected production time of the new plant will start from 2022 to 2024. If the new plant is put into production, the total production capacity of the new plant will increase by about 3 million pounds to 8 million pounds per month.

In March 14, 2019, the project was still under discussion, and the company had no contractual obligation to purchase land at any address.