ATLANTA — International Textile Group’s Cone Denim opened its fully vertical Cone Denim Jiaxing (CDJ) facility in Jiaxing, China, on Nov. 1.
The CDJ operation is a joint venture partnership with 51 percent owned by a subsidiary of ITG and 49 percent owned by a subsidiary of Novel Holdings Limited, which is owned by the Chou family. CDJ, which is equipped with modern manufacturing equipment to process raw cotton through finished denim fabric, has a capacity of approximately 28 million yards per year and will employ 900 persons.
Wilbur L. Ross, Jr., chairman of ITG, called CDJ “an exciting milestone for ITG and Cone Denim. The Asia-Pacific region represents great opportunity, and we are excited to be a part of the tremendous growth and momentum underway in China. [ITG Cone Denim’s] China platform allows us to further expand our innovative products and total supply solutions worldwide.
Ross and John Bakane, president of Cone Denim were on hand for the grand-opening ceremony, as well as Silas Chou, CEO and managing director of Novel Group; Shi Guang Sheng, former Minister of Commerce for China and current chairman of China’s Foreign Investor’s Federation, and Chen Derong, mayor of Jiaxing, who spoke at the ceremony. ITG operates three other facilities in the Asia-Pacific region: Jiaxing Burlington Textile Limited, opened in February 2007; a facility in Changshu, China for airbag cushions for automobiles, and a cotton fabric and garment complex in DaNang, Vietnam where garment operations began this year and textile operation will start up in mid 2008.