Singapore-German tannery

Singapore-German tannery

SINGAPORE (AFP): A leading Singapore leather furniture
manufacturer and one of the largest tanneries in Germany Tuesday
set up the city-state's first tanning plant, it was announced
here.

The joint venture plant, Hwa Tat Lee Leather Pte. Ltd. (HTL),
will operate and manage the 10-million Singapore dollar (US$6.5
million) facility, which will export a large part of its
products.

Publicly-listed Hwa Tat Lee Holdings, has a 90 percent stake
in the joint venture with the German partner, Schafstall
Handelsgesellschaft mBH and Co. KG, taking up the remaining 10
percent.

The joint venture agreement was signed here Tuesday, the
Singapore partner said, adding that the German company would
provide technical expertise to operate the plant for five years.