Agriculture: Acquisition in forestry
(China Daily HK Edition)
Updated: 2006-05-09 14:46
Apparel and uniform maker Good Fellow Group has turned to forestry by
acquiring Beijing Wan Fu Chun Forest Resources Development Co (Beijing WFC).
The move could prompt mainland textile makers to venture into other
businesses too, especially because the returns in the general garments sector is
low.
The HK$560-million acquisition was approved at Good Fellow's special general
meeting yesterday and would allow the company to hold a 70 per cent stake in
Beijing WFC.
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