Yue Yuen Industrial (Holdings) Limited is to expand its manufacturing scope laterally and move into the production of safety footwear. It has set up a joint venture called Oftenrich Holdings Limited with Upmax Investments Limited, which is a member of the Golden Chang Group. The joint venture will focus on the manufacture of safety shoes and casual shoes.

Witrh annual turnover of over $200 million and production of about 12 million pairs of shoes, Golden Chang has over 50 years of experience in leather processing and footwear manufacturing originating in Taiwan. Its principal production base is located in Zhongshan, Guangdong Province, China. Major customers include Wolverine, Wal-Mart, Timberland and Dr. Martens.

Commenting on the joint venture, Mr. Edward Ku, executive director of Yue Yuen, said, Teaming up with a well-experienced manufacturer will offer immediate contribution and product category diversification opportunity to the group. Furthermore, the combination of the expertise from two market leaders will enhance the competitiveness of the joint venture in footwear manufacturing providing high quality services for customers in the safety/casual shoes segment.”