By: Wei Shu and Lee Hsin-Yin
Taipei, July 30 (CNA) Taiwanese clothing manufacturer Roo Hsing Co. Ltd. said Sunday
that it will become the world’s largest jeans provider from Aug. 1 after a merger with China-based JD United Holdings, Ltd.
Jeans production at JD United Holdings is four times that of Roo Hsing, which will bring the annual jeans output to 84 million pairs, or 7 percent of the world’s supply, said Roo Hsing Vice President Hsu Chung-jung (徐仲榮).
Roo Hsing’s board agreed in 2015 to buy out JD United Holdings for US$388 million, which was raised in full on June 20 this year.
The takeover is expected to turn the Taiwan-headquartered jeans manufacturer into a multinational corporation, he said. [FULL STORY]