SHANGHAI, May 7, 2021-

Sateri has entered into agreement with Funing Aoyang Technology Co., Ltd. (Funing Aoyang) to acquire its viscose fibre business today. The acquisition is part of Sateri’s growth strategy which will bring Sateri’s total number of viscose mills in China to six and total annual production capacity to more than 1.8 million tonnes.

Funing Aoyang is a subsidiary of listed company Jiangsu Aoyang Health Industry Co., Ltd. Its 330,000-tonne per annum mill that will be acquired by Sateri under the agreement, is located in Aoyang Industrial Park, Funing County, Jiangsu Province.  Sateri is a member of the RGE group of companies; RGE manages a group of resource-based manufacturing companies with global operations.

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