According to Richard Yan, ‘SRL have a most unique experience of being the only leather company in the world that produces footwear, garment and auto upholstery leather, and has a long experience of producing premium wet-blue as well. With Fuxin's plans to create a state of the art leather-making zone utilising world-class environmental technology, Shanghai Richina is positioned to help Fuxin reach its goal. The region is rich with auto and footwear production, and we expect continued industry sector growth in this northern China area.'
Bob Moore, president and ceo of Richina Industries visited the new Fuxin zone several times, and commented, ‘Shanghai Richina Leather continues to evaluate strategic options to broader its value chain. We are attracted to Fuxin as a place to create a world-class wet-blue leather facility that would supply SRL's leather making businesses. Mayor Pan GuoLi and his staff have provided us with phenomenal support as we assess this opportunity and investment.'
A formal announcement of SRL's expansion plans is expected shortly, as the final details of the new agreement are worked out with Liaoning and Fuxin government officials.