Shandong Ruyi Technology Group (Ruyi) is a Chinese based company that has recently published reports saying that it has planned to invest a sum of $410 million in a former Sanyo manufacturing plant in Forrest City, Ark. The aim is to convert it into a spinning facility. Ruyi has planned to spin more than 200,000 tons of Arkansas cotton into textile yarns at the plant, which will employ up to 800 people. The construction of the plant will begin later this year 2017, however, the production is expected to start by the mid of next year. This will be the first location of Ruyi in the North America.
According to the statement given by Qui, “Ruyi Group, as the largest textile manufacturer in China, has been expanding globally,” further added was that; “Our manufacturing facility in Arkansas will become the first milestone of Ruyi’s steps into the United States. We are dedicated to providing the product with cutting edge technology and superior quality.”
According to Kay Brockwell, the economic development consultant for Forest City, “This project is tremendously important to Forrest City and St. Francis County not just for the great jobs it brings to our region, but also for the value of the cash crop on which the Arkansas Delta economy has been based for more than 100 years.”
