China-based Texhong Textile Group Limited will set up a viscose yarn manufacturing plant in San José Department in southern Uruguay. Mr. Hong Tianzhu, who founded the Texhong Group in 1997, met Mayor José Luis Falero and other government officials and confirmed the setting up of the yarn manufacturing plant.
The Chinese firm has decided to invest US$ 70 million for the project, US$ 10 million more than the previous projection. Initially, about 50 operators from China will impart training to about 150 local people on the operation of the manufacturing plant. Work is scheduled to begin shortly for the new plant, which will produce viscose yarn, used as a raw material for the manufacture of clothing. Texhong Group is one of the largest core cotton textile suppliers in the world and is a leading textile enterprise with focus on manufacturing high value-added core-spun cotton textile products, according to the company’s website.
Presently, the Group has over 1,600 customers, with sales network spread across China, Europe, South Korea, Hong Kong and Bangladesh. Headquartered in Shanghai, the Group operates 11 manufacturing plants in China, and has a production base in Vietnam with total production capacity of over 800,000 spindles and 900 air-jet looms. The head of the Uruguay plant would function as the head for the South American region, as the company plans to expand to major South American countries in near future.
