JAPAN: Itochu Agrees Sportswear JV In China
Japanese apparel firm Itochu Corp on Friday announced plans to set up a knitting joint venture with Chinese clothing producer Ningbo Youngor (Group) Co in China. The new company, which has been set up with capital of $20 million, will produce knitted casualwear and sportswear and will be called Ningbo Youngor Knitting Dyeing & Finishing Co.