Swift Galey teams up with Chinese source
Susan M. Andrews -- Furniture Today, October 19, 2005
Atlanta — Denim specialist Swift Galey, which supplies a number of upholstery manufacturers, is strengthening its global presence through two joint ventures with Lucky Textile Group, a Chinese weaving, dyeing, finishing and printing company.
Financial terms were not disclosed. Swift Galey will partner with Lucky in its existing dyeing and finishing facility, and the two companies also will construct a denim mill.
The joint ventures, subject to approval by the Chinese government, are expected to be final by the end of the year.
The denim factory will have an initial capacity of 30 million yards a year with plans to expand to 50 million. It will be another resource for U.S. companies that source slipcovers and slipcovered sofas in China.
Swift Galey's quick-turn and premium denim, however, will continue to be U.S.-made.
"We've spent significant time assessing potential joint venture partners in China and believe we have made an excellent choice," said John Heldrich, Swift Galey CEO. "Partnering with a strong company like the Lucky Textile Group, which shares our vision and business values, gives us excellent global balance, with our Americas, European and Asian operations supporting each other."
Lucky is a family-owned company that has been operating for more than 30 years.
Featured Company
-
FurnitureCore.com
FurnitureCore.com is a dynamic web application aimed at the furniture industry. Retailers and manufacturers alike will find our deep reserve of tools to be exactly what their furniture business needs.www.furniturecore.com... more
VIEW ALL GALLERIES
