Sateri became the world's largest viscose producer when it acquired debt-burdened Jiangsu Xiangsheng Viscose Fiber Co., Ltd. The acquisition, its fourth viscose mill, places Sateri as the world's largest viscose producer at 1.1 million metric tons per annum.
Renamed Sateri Jiangsu, the viscose mill was opened on 9 May 2019.
The latest acquisition will enable Sateri to bring high-quality viscose to a larger group of customers, including those in the northern China market. With plans to upgrade and expand mill production facilities as part of the company’s longer term vision, the announcement was greeted with excitement as it is expected to contribute to the growth and transformation of Suqian as a vibrant textile and garment hub.
A 700 million yuan (USD105 million) investment to increase production capacity from 220,000 to 300,000 tonnes by end of 2019 is planned as Sateri works with downstream partners to accelerate the sustainable development of Suqian City and its surrounding areas.
The company’s world-leading production network now includes four viscose mills in Sateri Fujian, Sateri Jiangxi, Sateri Jiujiang and Sateri Jiangsu. Its range of high-quality viscose products is independently verified as safe and responsibly produced.
It is the world’s first viscose company to obtain the MADE IN GREEN by OEKO-TEX® product label. Other certifications include STeP by OEKO-TEX®, STANDARD 100 by OEKO-TEX®, Chain of Custody (CoC) certification from the Programme for the Endorsement of Forestry Certification™ (PEFC™), ISO 9001 and ISO 14001. It is also one of the world’s first viscose mills to have completed the Higg Facility Environmental Module (FEM) assessment.
Focused on sustainable viscose manufacturing, Sateri recently launched Tracer, a traceability and tracking tool. Currently in development, Tracer is expected to provide retailers and consumers a wau to verify if garments contain Sateri’s high quality and sustainable viscose.