|Zhejiang China Ting Group Co., Ltd is an enterprise specializing in garment manufacturing and export. In this period of deep economic crisis, the company has taken a bold step by buying out an entire Italian wool manufacturing company.
The Ting Group is currently one of China's largest silk garment manufacturers and exporter. Official statistics show that total exports of China Ding Group reached 2.5 billion Yuan in 2008, with one of the highest profit margins.
But in a bid to diversify their product portfolio, the group went ahead and invested € 3 million and has shifted the entire machinery and equipment to a new 60,000 square meter plot in Yuhang Economic Development Zone.
In the first half of last year, officials went scouring for opportunities to invest in the wool industry in a few cities of Italy, which is well known for its wool sector and spent 2 billion Yuan to buy a lot of leading wool textile equipment and technology.
Now with the equipment back in China, the group is building a spanking new 30,000 square meters production facility in the first phase and the production of wool is expected to begin by the first half of 2009.
Italy has a very technology savvy wool manufacturing sector and it produces one of the finest quality of wool in the country and investment in the latest technology will give an edge to the Ting Group in global wool markets.