Giant Eagle to invest 600 mln on building spinning assembly lines
- Details
- Category: Ningbo Business
- Published: Tuesday, 20 March 2012 13:11
The president of Giant Eagle Chen Zhao voiced that his company would invest 600 mln yuan to build spinning assembly lines which could produce 200,000 spindles of fined cotton yarns in the spinning park in Aksu, Xinjiang, while attending the Industrial Economy Conference of Juexi Street held a couple of days ago. This decision would increase the capacity of the Giant Eagle Group in Aksu to 330,000 spindles.
Last year, the Giant Eagle Group braved through the severe market economies and various stresses from the exchange rate, the taxation etc. and quickened its pace of upgrading and transformation resolutely. As a result, its gross industrial output value of last year amounted to 1.61 bln yuan and its sales volume reached 2 bln, export delivery value 800 mln yuan. The enterprise also paid a tax of 150 mln yuan.
The Group is planned to invest 1.2 bln on the technological innovation in the knitting sector and the construction of such major projects which aim to develop top grade fabrics and costumes.
At present, the set top box launched by the Giant Group can be seen on the markets of more than 20 places in 6 provinces including Zhejiang, Anhui etc. Its market share were among the top five in three consecutive years.
