Hong Kong-based lingerie manufacturer Embry Holdings is ready to sell its Changzhou plant for HKD56m (US$7.19m), it has been reported.

According to AFX News, Sinowide Investments will acquire the whole of Embry Development, including the 16,700 square metre factory in Changzhou, eastern China.

Embry is expected by local press to use the proceeds of the sale to build an expanded operation elsewhere in Changzhou.