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Xilinmen Furniture Co Ltd to Set up Subsidiary

Tuesday, 19 Mar 2013 08:00pm EDT

Xilinmen Furniture Co Ltd announced that it will invest RMB 50 million to set up a wholly owned subsidiary in Shaoxing. The subsidiary will be with a registered capital of RMB 50 million and be engaged in the production, processing and sale of furniture, bedding, household metal products, and decoration materials.

Vilniaus Baldai AB Invests in New Facility

Monday, 11 Feb 2013 09:00am EST

Vilniaus Baldai AB (VB) announced that in 2012, it made an investment in the amount of LTL 12.3 million into modernization of equipment and implementation of new technologies. VB paid a lot of attention to modernization and maintenance of production equipment, optimization of technological processes and increase in work efficiency. In January 2013, VB completed installation works of new calibration and mortising line, the cost of which reached LTL 10 million, and started continuous production. Installation of this line was launched in November 2012. The installation was made by the German Homag Group. The facility is intended for processing of furniture part edges and mortising. At present, the line is under testing and adjustment works are carried out and also qualified operators are being trained and prepared. At the end of February 2013, VB intends to start mass production employing this equipment. In 2012, VB invested LTL 12.3 million of its own funds into equipment modernization. According to Mr. Renatas Rimkunas, Production Manager at VB, VB is currently not increasing its production output, as it still updates old and technologically outdated equipment. In 2013, VB intends to continue modernization of production equipment and plans to invest another LTL 15 million into new equipment from its own funds.

HTL International Holdings Ltd Announces Establishment Of Wholly Owned Subsidiary In Sweden

Friday, 23 Nov 2012 04:21am EST

HTL International Holdings Ltd announced that the Company established a wholly-owned subsidiary known as HTL Scandinavia AB (HTL Scandinavia) to undertake the import, sales and distribution of furniture, including sofas, in Scandinavia on November 21, 2012. The share capital of HTL Scandinavia is EUR 50,000 (approximately $65,000), which the Company has injected by way of cash in one tranche.

Guangdong Yihua Timber Industry Co Ltd to Set up Subsidiary

Friday, 16 Nov 2012 07:00pm EST

Guangdong Yihua Timber Industry Co Ltd announced that it will set up a wholly owned subsidiary in Linyi, Shandong. The subsidiary will be with a registered capital of RMB 60 million and be engaged in the production of wood products, wood furniture and parts, as well as deep processing of wood.

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