China Linen Textile Industry, Ltd. Signs Agreement to Ship Fabric to Italian Company-Texglobe

China Linen Textile Industry, Ltd. Signs Agreement to Ship Fabric to Italian Company

Updated: 2009-12-11 Source: PR Newswire

China Linen Textile Industry, Ltd. (OTC Bulletin Board: CTXIF), a China-based company engaged in the production and sale of linen yarn and various types of linen fabric, announced today that its wholly-owned subsidiary, Heilongjiang Lanxi Sunrise Linen Textile Industry Co. Ltd., has signed a contract with an Italian company to deliver approximately 1.4 million meters of semi-bleached linen fabric. The contract is valued at approximately $3.05 million. The first shipment will occur in December 2009 and continue through five total shipments to be completed in May 2010.

Mr. Gao Ren, chairman and chief executive officer of China Linen Textile Industry, stated: "We have enjoyed a productive and growing relationship with Tanny Tex for five years, and this year's order showed an increase of 10% over the same period last year. Tanny Tex is continuing to expand its business, which will result in higher production and sales for China Linen Textile in 2009 and 2010.