April 3, 2017 / 3:29 PM / 4 months ago

BRIEF-China Fibretech says unit to shutdown operations

2 Min Read

April 3 (Reuters) - China Fibretech Ltd:

* Operation of unit, Shishi Simwa Knitting & Dyeing has been downsizing and will be temporarily shut down

* Operations to shut due to non-compliance of sewage treatment regulation and sewage disposal without treatment made by sewage treatment service provider

* Due to uncertainties surrounding claims, trading of company shares will continue to be suspended until further notice

* Operation of subsidiary will be resumed upon compliance of relevant regulations by Haitian

* To downsize and will temporarily shut down operation of its subsidiary in coming few days in order to avoid further loss

* Capacity of sewage treatment service provided to subsidiary has been reduced to 400 tonnes per day

* Haitian penalized by local authority, output of sewage from all dyeing companies in Wubao Industrial Zone restricted and closely monitored by relevant authorities

* Owing to non-compliance of environmental protection and sewage treatment regulation in Shishi by Haitian, Haitian was penalized Source text for Eikon: Further company coverage:

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