Jun 4 2010
China Linen Textile Industry, Ltd. (OTC Bulletin Board: CTXIF) ("China Linen"), a China-based company engaged in the production and sale of linen yarn and various types of linen fabric, today announced that it received two new orders for linen yarn from customers in Belgium and India.
In May 2010, China Linen received two orders for linen yarn valued at approximately $1.5 million and $0.3 million from two new customers located in India and Belgium, respectively, with gross margins estimated at approximately 30%. The products for both orders will be manufactured at the Company's Lanxi, Heilongjiang facility starting in June 2010, with final shipments to be made before the end of the year. After further processing, these materials will be made into finished goods, such as personal home and apparel products.
Both customers are newly developed clients and local distributors in Belgium and India. They visited China Linen's Lanxi facility in March 2010 and evaluated the Company's product quality, techniques, service and credibility. Both clients were very satisfied and communicated their intent to build a long-term relationship with the Company.
"I am very pleased to announce these two orders from new customers for the export market. These orders represent a significant milestone in our international sales strategy and demonstrate our ability to expand into new markets by leveraging our high-quality products and unparalleled customer service. We expect to secure additional, larger orders from these and other international customers as we gain preferred supplier status," Mr. Gao Ren, chairman and CEO of China Linen, commented. "Our efforts to expand our geographic reach will further enhance our leading position and competitive advantages, while our R&D efforts will continue to focus on new product development and best-quality product enhancements. We believe that our emphasis on international expansion, coupled with growth of domestic market, will yield significant growth in 2010 and beyond."
Source: http://www.china-linen.net/