International Textile Group, Inc. (ITG) announced recently that it would build a state-of-the-art denim plant in the city of Jiaxing, in China through a jv. The new company is named as Cone denim (Jiaxing) Limited where ITG would hold 51% and remaining 49% to be
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| owned by a subsidiary of Novel Holdings Limited.
The Cone denim (Jiaxing) facility is expected to be operational by late 2006 and will have a production capacity of approximately 30 million yards annually. The plant will be equipped with state of the art equipment to process from raw cotton to finished fabric. 
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