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Industrial Finance
Scots Leather Group teams up in China
Publish Time：2009-09-11
Bridge of Weir Leather, division of a Scottish Leather Group is launching a joint venture in China aiming to tap the growing car market in the country. The Renfrewshire based company has joined hands with Zibo Polygrace Dahuanjiu Tannery Group, a manufacturer and exporter of upholstery leathers.
The joint venture will be known as Zibow Automotive and is expecting a turnover of $20 million in the fifth year of operations. Both the companies have invested $ 3 million in automotive leather finishing, testing and cutting facilities.
This venture has been cited as the great example of British and Chinese technology transfer and business collaboration by the Secretary of State for Business, Innovation and skill, Mr. Lord Mandelson.
British Companies can obtain much from China and Bridge of Weir Leather is leading the collaboration with this investment.
Zibow Automotive will initially concentrate on the Chinese market, but later on it will start expansion with exports to the Far East. Tanning and dyeing of most of the hides will be done at the company??s Bridge of Weir tannery and for finishing it would be exported to China.
