Sateri grows China viscose mills to six
In a move that will take its total number of viscose mills in China to six, Shanghai-headquartered Sateri - already the world’s largest producer of viscose fibre - recently entered into an agreement with Jiangsu-based Funing Aoyang Technology (Funing Aoyang) to purchase its viscose fibre business.
A subsidiary of Shenzhen-listed company Jiangsu Aoyang Health Industry, Funing Aoyang is in possession of a 330,000-tonne per annum mill, which will be acquired by Sateri under the terms of the agreement.
Although currently subject to procedural approvals by relevant authorities, if given the go-ahead the acquisition will increase Sateri’s total annual production capacity to more than 1.8 million tonnes, a press release said.
Sateri president, Allen Zhang, commented: “This acquisition will boost Sateri’s market footprint and further strengthen our ability to serve customers in eastern and northern China. Through better management and operational excellence, we hope to make a positive impact on the local economy and accelerate the sustainable development of the industry.”
Image: Unsplash. Credit: Adam Vradenburg
