Elite Color Environmental Resources Leases Workshop From Unit for 150 Million Yuan
Elite Color Environmental Resources Science and Technology has agreed to lease a workshop from its unit, Jiangsu Hengze Composite Materials Technology, for 150 million yuan over three years. The workshop, located in Jiangyin City, China, produces 80,000 tons of functional composite special fiber annually and spans 39,704.57 square meters, featuring two production lines and two post-processing trial lines. The lease will commence on June 1, 2023, and end on May 31, 2028.
Elite Color Environmental Resources Science and Technology agreed to lease a workshop from its unit, Jiangsu Hengze Composite Materials Technology, for a total rent of 150 million yuan for three years, according to a Shenzhen bourse filing on Saturday.
The workshop in Zhutang Town, Jiangyin City, China, produces 80,000 tons of functional composite special fiber every year. The building area measures 39,704.57 square meters, and it is comprised of two production lines and two post-processing trial lines, as well as auxiliary equipment and facilities.
The lease term will be between June 1 this year and May 31, 2028, the Chinese textile recycling company said.
