One of southern Taiwan's largest textile manufacturers has revealed that it is to open a new cloth plant in mainland China, reports the China Economic News Service.

The board at Everest Textile Co agreed on the plans to invest $15m (TW$492) in establishing a fibre cloth plant in the Chinese mainland during 2001.

The company has become increasingly confident in Chinese investments following a TW$100m pretax profit from its reinvestment in a Far East Textile Group run chemical fibre plant last year.