International Business: China Linen Receives $ Belgium, India Orders
June 7, 2010 (FinancialWire) — China Linen Textile Industry, Ltd. (OTCBB: CTXIF), a China-based company engaged in the production and sale of linen yarn and various types of linen fabric, said that it has received two new orders for linen yarn from customers in Belgium and India.
The said it received two orders for linen yarn in May valued at around $1.5 million and $0.3 million from two new customers located in India and Belgium, respectively, with gross margins estimated at around 30%.
China Linen said that 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.
According to China Linen, both customers are newly developed clients and local distributors in Belgium and India. They reportedly visited China Linen's Lanxi facility in March 2010 and evaluated the company's product quality, techniques, service and credibility. China-based
China Linen Textile Industry is principally engaged in the production and sale of linen yarn and various types of linen fabric. The company is also involved in consultation and R&D related to linen technology and linen products.
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