On November 15th, the project of investment amounting to CNY 500 million was formally signed for and it settled in Laiyang Development Zone of Yantai. The project takes up areas of 120,000 square meters and building areas of 60,000 square meters. The investment was made by Jiangsu Yancheng Textile Machinery Co., Ltd., aiming at the market in North China. The company mainly produces and sells sizing machines, filament warp rebeaming machines, cop winding machines and some other textile machines. It is estimated the annual sales revenue will, when the project goes into operation, reach CNY 600 million.

Source: China Textile Leader