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Tainan Spinning Co Ltd to Sell Stake in Sub-subsidiary; to Partner with Makalot Industrial Co Ltd

Thursday, 3 Oct 2013 12:00am EDT 

Tainan Spinning Co Ltd announced that it has resolved to sell a 50% stake in a sub-subsidiary, Namtex Co., Ltd., held by a subsidiary, Tainan Spinning Co.,Ltd.(Vietnam), to a subsidiary of Makalot Industrial Co Ltd for USD 4.49 million. The two companies will become joint partners in operation of Namtex Co., Ltd. 

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