Planned merger to form world's largest leather maker
Prime Tanning Co Inc and Shanghai Richina Leather Co Ltd have agreed to a merger to create what they said would be "the world's largest premium leather maker."
By Agencies |
BERWICK: Prime Tanning Co Inc and Shanghai Richina Leather Co Ltd have agreed to a merger to create what they said would be "the world's largest premium leather maker."
Robert Moore, chief executive officer of Prime, will become CEO of the combined company, Prime Leather International. The announcement Monday said the new company will have capacity to finish more than 150 million feet of leather annually.
Shanghai Richina CEO Roger Wang said the two companies have been working closely since early 2006, when Prime became its chief supplier of partially preserved leather hides known as wet blue.
Prime has a wet blue tannery in St. Joseph, Missouri, and finishing operations in Berwick and Hartland. Shanghai Richina is a wholly-owned subsidiary of Richina Pacific Limited, a Bermuda-based holding company with businesses in New Zealand and China.
Robert Moore, chief executive officer of Prime, will become CEO of the combined company, Prime Leather International. The announcement Monday said the new company will have capacity to finish more than 150 million feet of leather annually.
Shanghai Richina CEO Roger Wang said the two companies have been working closely since early 2006, when Prime became its chief supplier of partially preserved leather hides known as wet blue.
Prime has a wet blue tannery in St. Joseph, Missouri, and finishing operations in Berwick and Hartland. Shanghai Richina is a wholly-owned subsidiary of Richina Pacific Limited, a Bermuda-based holding company with businesses in New Zealand and China.
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