CHINA: Shoe Giant Yue Yuen To Buy Supplier
The world's largest shoemaker, Yue Yuen Industrial (Holdings), on Wednesday announced it plans to acquire a raw material operation from its parent company, Pou Chen, as part of a vertical integration strategy. Yue Yuen, which produces sports shoes for firms including Nike, Adidas and Reebok, did not reveal a price or timetable for a deal that will see it acquire the unnamed maker of materials for shoes it manufactures.
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