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| Becomes the Pioneer in Green Knitting and Dyeing Industry |
HONG KONG, Nov 14, 2013 - (ACN Newswire) - ADDCHANCE HOLDINGS LIMITED ("Addchance", together with its subsidiaries, the "Group", stock code: 3344), a leading manufacturer of dyed yarns and knitted sweaters, announces the grand opening of the Eco-base Green Factory ("Green Factory") in Cambodia and the presentation of Eco-factory Standard Certification by Marks & Spencer. The idea of building the green factory of Addchance was inspired by Mark & Spencer. The concept behind the green factory is trying to use environmental friendly material, implement green production process and energy saving. Reuse, reduce and recycle to enable the group to minimize the daily disposal within the factory. Addchance believes that, the new factory can fulfill the demand from their world renowned clients from Europe and other overseas region in order to enhance market share.
 | | Addchance Join Hands with Marks and Spencer Developed the First Hong Kong Enterprise Owned Eco-base Green Factory in Cambodia |
The total development cost of the Green Factory in Cambodia is approximately US$20 million. The Green Factory was completed by the end of 2012 and has commenced trial operation in the first quarter of 2013. The total area of the Green Factory is approximately 99,159m2. The design concept of the Green Factory was originated from the idea of energy saving and emission reduction from the use of environmental friendly building material, natural lighting facilities and temperature control. The Green Factory is well-equipped with numbers of Germany-imported automatic weaving machines and equipment to expand the capacity of the symbols of green eco-friendly clothing products. Only the Green Factory contains 700 workers and produces 250,000 sweaters per month. The Green Factory currently produces mainly sweaters and socks. The Green Factory will enhance the total sweaters production capacity of the group by 20%. Upon full operation of our Green Factory, we expect to improve our product mix in order to increase our profit margins.
Mr. Henry Sung, Chairman of Addchance Holdings Limited said, 'Our green factory in Cambodia marks the strenuous efforts of the group in creating a more environmental friendly and a better environment for the industry development. As a pioneer in the green sweaters knitting and dyeing industry, we will continue to further invent and develop in order to increase our production efficiency under the reuse, reduce and recycle environment protection concept. We expect the Green Factory will be able to drive more demand from our world-renowned European and other overseas clients which will become our core drive of growth in future.'
Our green factory, which was inspired by our customer, Marks and Spencer, was established under the concept of reuse, reduce and recycle. By using environmental friendly materials and implementing green production process, we aim to achieve better energy conservation and minimize daily disposals. The group's gross profit margin has been increased to approximately 33.0% from 23.6% in the first half of 2013. Cambodia enjoyed import tariff concessions from Europe and Japan which further strengthens our competitive advantages in the industry.
Against the backdrop of surging raw material prices and uncertain global economic environment, we believe the Green Factory can further strengthen our competitive advantage in capturing more orders from the countries that impose strict regulations of environment protection such as Europe, Australia and Japan. Along with the commencement of operation of the Green Factory, the Group is going to launch new product with higher average selling price that helps to optimize our overall pricing strategy.
Contact:
LBS Communications Consulting Limited
Joanne Chan(852-9616 2676) / Ian Fok(852-9348 4484) / Stella Chan(852-6892 3143)
Tel: (852) 3752 0431 / (852) 3679 3671
Fax: (852) 3753 2899
Email: jchan@lbs-comm.com / ifok@lbs-comm.com / schan@lbs-comm.com
Topic: Press release summary
Source: Addchance Holding Limited
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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