Shandong Ruyi Acquire Cubbie Station (03/26/2013)

Updated: 2013/3/26 16:28:00

Recently, Shandong Ruiyi Group has completed the deal for acquiring Cubbie Station, making a successful end to its two-year efforts. Cubbie Station is Australia´s largest cotton farm. Ruyi together with Lempriere, one of Australia´s oldest cotton processors, spent AUD 230 million (about CNY 1.5 billion) on the deal, while Ruyi takes the lead in the acquisition.

After the acquisition, Ruyi Group will not only have stable and high-quality cotton source, but also have a say in cotton production and export price in Australia.

Source: China Textile Leader

Authority in Charge: China National Textile and Apparel Council (CNTAC)

Sponsor :China Textile Information Center (CTIC)

ISSN 1003-3025 CN11-1714/TS