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Shanghai Richina Leather and GST Autoleather Sign 5 Year Joint Venture Agreement in Shanghai on July 10
July 10, 2009: Shanghai, PRC: Shanghai Richina Leather Co., Ltd. (SRL) a subsidiary of Richina Industries, Inc. and GST Autoleather, Inc. signed a five year joint venture agreement to produce auto leather in China. Bob Moore, Richina Industries President and CEO and Dennis Hiller, President and CEO of GST Autoleather, representing both companies, signed the agreement during meetings held in Shanghai on July 9 and 10.
According to Bob Moore, "SRL has enjoyed a close working relationship with GST since 2004. This new agreement marks the evolution of our business, and takes us to a new level as we position ourselves to capitalize on the expanding China car seat leather market. This is a very exciting time for us, GST and our employees."
Richard Yan, Managing Director of Richina Inc., the Parent Corporation of Richina Industries added, "the China auto market is growing at speeds, volume and sophistication no one could have foreseen when we first joined hands with GST in 2004. We have enjoyed our relationship, and look forward to many years of mutually beneficial growth and profitability with GST as we become the leader in the China market."
Shanghai Richina Leather Co., Ltd. is headquartered in Shanghai, China and produces auto, garment and footwear leather for global brands including Toyota, Nike, Cole Haan, Johnston and Murphy, Calvin Klein, Merrell, Clarks, Born, HH Brown, Sperry Topsider and Wolverine. SRL is BLC Silver certified, and is ISO 9001, 14001 and TS 16949 rated.
Headquartered in Southfield, Michigan, GST Autoleather has operations in North America, Europe and China. GST is a leading producer of quality car seat leather, and is recognized for its product research and development, marketing capabilities, and operational excellence. Its client list includes Lexus, Toyota, Honda, General Motors, Shanghai GM, Ford, Chrysler, Chery, Peugeot, and Citroen.
