US-based eVision International, Inc. has entered into an agreement with Chen Chi-Cheng, the executive director, CEO and majority shareholder of Taiwan-based Haojey Technofibre Limited, to acquire approximately 71% of Haojey—a manufacturer and distributor of high-tech performance fibres. eVision will purchase Haojey for $20 million to be satisfied by the issuance of 43,250,000 common shares at an issue price of $0.12 per share and the issuance of a promissory note in the amount of $14,810,000.

Haojey manufactures and sells high-performance fibre products under its house brands Texcare, Elastel and Dexlon, as well as the brand of its major supplier Asahi Kasei. The key properties of these fibres are lightweight, swift moisture absorption, anti-bacterial, rapid drying, UV light blocking, low temperature dyeability, high absorbency, high elasticity, heat insulation, heat resistance, and water resistance. These properties are particularly suitable for the manufacture of textiles and clothing apparel. Haojey is constantly innovating new products, with the latest development involving the use of nanotechnology in the manufacture of new fibres.

Haojey was established in Taiwan in 1979 and has approximately 170 employees. All manufacturing activities are currently carried out at Douliu Plant in Taiwan.