The Nilit Group announces a strategic cooperation with the Chinese Shenma Group

The Nilit company, which produces nylon 6.6 yarns for the fashion, clothing and textile industry, announced that it will establish a venture with the Chinese Shenma Corporation, one of the leaders in the industrial nylon 6.6 market for the international automotive industry.

The cooperation agreement for the establishment of the joint venture was signed today in the city of Shanghai in China in the presence of Li Mao, Chairman of the Shenma Group and Michael Levy, Chairman of the Nilit Group.

The joint venture will include the establishment of a new manufacturing site in Pingdingshan, Henan Province. The site produced 20,000 tons of yarn per year.