Nilit, which manufactures nylon 6.6 yarns for the fashion, apparel, and textile industries, announced the establishment of a venture with the Chinese corporation, Shenma, one of the leading players in the industrial nylon 6.6 market for the international automotive industry.
The cooperation agreement for the establishment of the joint venture was signed today in Shanghai, China, by Li Mao, Chairman of Shenma Group, and Michael Levi, Chairman of Nilit Group.
The joint venture will include the establishment of a new manufacturing site in Pingdingshan, Henan. The site will produce 20,000 tons of yarn per year.