Yue Yuen expand into sportswear

Yue Yuen Industrial (Holdings) Ltd, the large footwear manufacturers based in Hing Kong, are to diversify into sportswear manufacturing. Their first production unit is likely to be located in Dongguan, Guangdong province, south China. Executive director, Steve Li, said Yue Yuen had budgeted capital expenditure of $150 million for the year ending September 30, up from $98 million the previous year. Around $120 million will be used to increase footwear manufacturing capacity, leaving $30 million for the materials supply businesses the company acquired late last year from the parent company. Source: The Wall Street Journal