Youngor’s new strategy in Xinjiang Autonomous regions
Date: 2011-03-22

On July 7, Shengtai Yarn-dyed Co., Ltd., affiliation of Youngor Group, invested RMB 200 million in Akzo Xinya Cotton Textile Co., Ltd., which was located in the Akzo light textile industrial park. The project, at its first phase, will reach production capacity of 50,000 compact spinning spindles and 30,000 double twisting spindles, which are mainly exported to Italy, Japan, Korea and well-known domestic enterprises.

Akzo, a region with a long history and rich resources, has a good foundation and condition for economic and social development, which also constitutes a promising future for economic development. The quality of Akzo cotton can be comparable to Egyptian cotton, which is considered the best in the world. Its cotton output accounts for 1 / 8 of the nation’s total production, and long-staple cotton production for 93%.

Since 2005, Youngor, with a total investment of nearly RMB 900 million, has invested eight cotton companies at Kashgar, Korla and other regions in Xinjiang. With the revenue of over RMB 800 million, yearly taxation of over RMB 40 million, and the employment of over 3,000 employees, these companies have been making significant contributions to Youngor’s international brand building and industry chain optimization as well. Under the circumstances of the soaring cost of production factors in Ningbo, Youngor has begun planning the transferring of its industries, and moving westward to Xinjiang is its initial action.

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