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.