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Chinese textile giant to buy Pakistan knitting mill
Wednesday, 11 December 2013

Faisalabad - Chinese textile giant Shandong Ruyi Technology Group is to buy a 52 per cent stake in Pakistan- based Masood Textile Mills Ltd (MTM), a key supplier to the JC Penney group and a major user of some of the latest circular knitting technology available on the market from suppliers such as Mayer & Cie, Terrot and Fukuhara. The company also operates more than 90 Vanguard Supreme machines.