US wood floor firm to set up JV in Jiangsu
(Xinhua)
Updated: 2006-03-30 14:49 A US company signed a
contract with a Chinese firm in Shanghai on Wednesday to establish a wood floor
production base in East China's Jiangsu Province.
According to the agreement, the Armstrong World Industries Inc and a timber
firm based in Guangdong Province will jointly invest 70 million US dollars in
the 53-hectare production base in the city of Kunshan.
The 50-50 joint venture is expected to produce 20 million square meters of
wood flooring every year after it starts operations in May. About 60 percent of
its output will be exported to the world market.
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