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Article: NTIEC INTEGRATES LIGHTING PRODUCT MANUFACTURING RESOURCES
- Article from:
- AsiaInfo Services
- Article date:
- June 24, 2009
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AsiaInfo Services
06-24-2009
NTIEC Integrates Lighting Product Manufacturing Resources
NANJING, Jun 24, 2009 (SinoCast Daily Business Beat via COMTEX) -- Nanjing Textiles Import & Export Corp., Ltd. (NTIEC; SHSE: 600250) will raise its holdings in Nanjing New-High Jingwei Electric Co., Ltd. to 92.15%, after the subsidiary completes a series of equity transfer deals with some other siblings, in a move to integrate its manufacturing resources of lighting products.
NTIEC, which specializes in import and export of garment and textile products, has taken a hit amid the global financial crisis. It recorded as much as CNY 20.85 million in net profits last year, a contraction of 6.67% on a ...