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Newfield involved in the acquisition of Asias largest textile spinning mill airflow

Published on:2014/1/17 15:43:03

Keyword:Spinning, market, cotton yarn, cotton, situation, condition, price
Introduction:The new field of textile (002087.SZ) issued a statement late Tuesday that the company with the other two companies signed a "cooperation agreement to ...

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new field of textile (002087.SZ) issued a statement late Tuesday that the company with the other two companies signed a "cooperation agreement to acquire the assets and operations", the new joint venture company set up by the purchase of related equipment Xinjiang Tianshan Textile Co., Ltd. Class assets, the transaction price 100 million yuan. " onmouseover="'#ebeff9'" onmouseout="'#fff'">

announcement said the new field of textile own funds invested 58 million yuan to hold 58% equity interest in the new field of textile +0.041.08 3.73% of the company. Industrial Huijin holds 4% stake in the new company, silver sponge industry holds 38% stake in the new company, the companies here stake distribution company profits. " onmouseover="'#ebeff9'" onmouseout="'#fff'">

company statement, after trading to achieve a new field of textile will become the worlds largest rotor spinning cotton yarn production base, a large supply of high-end rotor spinning yarn, spinning in the new market has a right to speak with the pricing, the new company will have the original company technology and key management team, and enjoy the great western development preferential tariff. " onmouseover="'#ebeff9'" onmouseout="'#fff'">

It shows that the former Xinjiang Tianshan Textile Co., known as "Asias largest air spinning factory", cantaloupe production licenses, seven stars spinning yarn brand on the market have a higher visibility. " onmouseover="'#ebeff9'" onmouseout="'#fff'">

In addition, according to company earnings forecasts, targets annual sales income of 400 million yuan, gross margin of about 25%, net profit margin of 10.28% of sales, profit of 40 million yuan, more than 40% of net assets. " onmouseover="'#ebeff9'" onmouseout="'#fff'">

Some analysts said the acquisition or further improve product quality with added value, but the specific market situation with the team the run remains to be seen. Companys current main attraction is 140,000 special yarn project is expected mid-year of production, textiles threshold is low, very low margin commodity, the project will improve the companys product structure, improve the companys profitability. " onmouseover="'#ebeff9'" onmouseout="'#fff'">

2013 semi-annual report shows that high-grade combed more than 85% share of the company, Siro spinning, compact spinning, elastic yarn share of more than 60%. " onmouseover="'#ebeff9'" onmouseout="'#fff'">Significant increase in R & D expenses amounted to 2,000 million in the first half.      " onmouseover="'#ebeff9'" onmouseout="'#fff'">