HONG KONG: Fountain Set To Spend $500m On Expansion
Fountain Set (Holdings), which makes fabric for retailers such as Wal-Mart, Gap and Marks & Spencer, is stepping up its expansion plans with a US$125 million (HK$500 million) investment in machinery upgrades and a new factory in eastern China. The new facility in Jiangyin, Jiangsu province, will increase production capacity from 18 to 21 million pounds per month. The first phase, costing around HK$300 million, is expected to be producing three million pounds a month by the middle of the year.
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