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|The Texhong Yinlong factory after the fire|
According to the latest information, the workers at the facility were not required to come to work today. The causes of the fire are still under investigation. The property damage seems extensive as the fire broke out from a warehouse filled with cotton and fabric material, which are very flammable.
The huge fire lasted for more than 15 hours and destroyed 5,000 tonnes of cotton and fabric materials inside Texhon Yinlong's factory.
The representative of Texhong Yinlong Technology Limited is not available to answer at the time.
Texhong Yinlong Technology Limited was established in May 2012 with the total investment of $300 million on an area of 53 hectares and employing 5,000 workers. It is a subsidiary of Hong Kong’s Texhong Textile Group. This is one of six Texhong's textile factories in Vietnam, besides five others in Dong Nai province's Nhon Trach Industrial Zone.
Texhong’s reports have not pointed out how much Texhong Yinlong Technology Limited’s facilities contributed to production, but they consistently stressed the important role of the facilities in Vietnam.
According to Texhong’s report, as of the end of 2017, the group had major production facilities comprising of about 3.03 million spindles and 1,283 looms. Approximately 1.78 million of these spindles were in China and about 1.25 million were in Vietnam.
In light of the strong demand for differentiated yarn products, the group intends to gradually commence expansion plans in Northern Vietnam, Xuzhou, and Shandong, China in 2018. The production capacity will be expanded with new and second-hand equipment. Approximately 220,000 and 380,000 spindles will be added in Vietnam and China, respectively.
|Texhong Textile Group's diversified production base|
The Group is also actively seeking opportunities to acquire yarn factories in China to meet market demand for differentiated products. Furthermore, efforts will be made to expand downstream business and upgrade existing equipment.
|Photo source: vnexpress.net|