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Fong's and Stork to form a joint
venture |
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Fong's Industries Co., Ltd. (Fong's Group), Hong Kong (PRC)
and the Division Stork Prints of Stork N.V, Naarden (NL),
today announced the setting up of a joint venture for
the manufacture, sales and service of rotary textile
printing systems and auxiliaries. Significant steps have
been made enabling both parties to sign a Memorandum of
Understanding with the firm conviction that a final
agreement will be reached within the next few months.
For Stork Prints the cooperation with Fong's is the
result of intense research for the best way forward with
the concentration of the production of rotary screen
textile printing machines in Asia as announced in
October 2005.
Stork Prints installed its first textile printing
machine in 1963, the same year Fong's was founded. With
over 80 years of combined experience both parties will
continue to be leading suppliers in the dyeing, printing
and finishing in the world markets.
For Mr. Fong Sou Lam, founder and chairman of the Fong's
Group, the signing of the MOU is an important step for
Fong's Industries and Stork Prints: "Only reliable
companies can truly benefit from a partnership, and
STORK and FONG'S are two globally known and strong
brands. This is a win-win situation for both companies
and the markets."
And Mr. Dick Joustra, President of Stork Prints added: "This
alliance makes sense and will have a positive impact on
the global markets. The proven technology by Stork made
to the high quality standards of Fong' s is an
attractive combination and will be beneficial for all
our customers. They will get the best of both worlds."
About Fong's Industries
Fong's Industries Co., Ltd. ("Fong's Industries") is
listed at the Stock Exchange of Hong Kong. It is a group
of companies, principally focused on various textile
machinery under the brands of FONG'S THEN, XORELLA AND
MONFONGS, with R& D, manufacturing and sales centres
located in Hong Kong, Shenzhen (PRC), Germany and
Switzerland. It employs some 3,700 people with a total
turnover in 2004 of approximately 1.8 billion HKD (185
million EUR).
For more information please visit the website: www.fongs.com.
About Stork Prints
Stork Prints is a group of companies that are a leading
provider of system and application know-how in rotary
screen printing and digital printing processes for the
textile and graphic arts industries. The company is
based in the Netherlands, with sales Offices worldwide.
It has a total workforce of 1,415 and, in 2005, had a
total turnover of EUR 200 million. For more information
please visit the website: www.storkprints.com. |
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Fong's and Stork to form a joint venture
Fong's
and Stork to form a joint venture