CHONGQING, China, Nov. 2 /Xinhua-PRNewswire-FirstCall/ -- Franklin Towers Enterprises (OTC Bulletin Board: FRTW) announced today that it has now received nearly $42 million in raw silk purchase orders from several of China’s most prominent silk purchasers for immediate distribution. Through the purchase orders, equaling 1,425 tons, FRTW has instantaneously transitioned into a revenue-generating status bringing full capacity demands to its new Qiluo facilities in Chongqing, China.
"Receiving such a large amount of purchase orders within a short time period further solidifies our philosophy of the extremely high demand, and lack of supply, regarding silk. We are pleased to see our methodical and geographical positioning of Qiluo paying off at such an early stage of operations," stated Kelly Fan, CEO of Franklin Towers Enterprises, Inc.
The Qiluo facilities are presently outfitted to produce 600 tons of raw silk on an annual basis equaling $18.8M in revenues. FRTW will begin consultation with its advisory board to determine the most suitable avenue, to once again, increase its operational scope to absorb the additional demand being requested by its client-base. FRTW will fulfill the present purchase orders at the most rapid pace obtainable, and possibly outsource the additional workload to its sister facilities.
"We will work diligently to expand our operations or possibly acquire existing silk manufacturing facilities to begin producing the full demand of our clients. Although it is always considered as a positive attribute of your organization when product demands are continuously increasing, we are eager to meet the requested figures to eliminate any market competition and capture the full potential revenue capabilities our organization," stated Kelly Fan, CEO of Franklin Towers Enterprises, Inc.
Purchase Orders Received:
Hang Zhou Yi Jia Shun Textile Co. Ltd.
Wu Jiang Tong Xin Textile Ltd.
Jia Xin City Te Xin Textile Ltd.
Tong Xiang City Heng Xian Wei Ye Ltd.
Tong Xiang City Hua Li Velvet Products Ltd.
Hang Zhou Xin Hua Textile Ltd.
Jia Xing City Bo Kai Silk Ltd.
Hu Zhou Chong Zhao Li Xin Textile Ltd.
Tong Xiang City Wu Tong Xing Sheng Qiao Velvet
Si Yang Zhong Xing Silk Co.
Fu Ling Si Er Ke Silk Ltd.
Chongqing Kai Deng Silk Industrial Ltd.
Hang Zhou Ya Shi Ju Co.
Hu Zhou Xin Bin Silk Co.
Guang De Juan Hui Silk Co.
Tong Xiang Jun Cheng Import & Export Co.
Hang Zhou Rui Li Silk Co. Ltd
Li Yang Xin Yuan Silk Ltd.
Su Zhou Huan Yu Silk Co.
Hu Zhou Yun Hao Silk Ltd.
Hang Zhou Xin Xiu Li Silk Co.
Maruti Silks Enterprise International Ltd.
S.K. Silks
Iswar Impex
K P R Silks Ltd.
Hetampuria Textiles
M/S Hanuman Weaving Factory
About FRTW:
FRTW, through its wholly owned subsidiary, Chongqing Qiluo Textile Company Ltd. ("Qiluo") located in the southwest region of China in the Chongqing Municipality, operates in China’s $250 Billion Yuan silk industry coordinating the entire silk manufacturing process from sericulture (the raising of silk worms for the production of raw silk), processing, clothing production and exportation of both final and raw products. Recent investments have been made to maximize the silk production/processing potential of Qiluo in an attempt to propel its organization to the forefront of the industry.
Over the past several years, Mr. Dingliang Kuang, founder and CEO of Qiluo has worked diligently to break into the silk industry in Chongqing, China. Known in the Chongqing region as one of the major industrialists having received numerous entrepreneurial awards in relation to his food processing plant, Chongqing Xin Sheng Xiang Industrial Development Co. Ltd. (one of the top 50 privately owned enterprises in Chongqing -- population approximately 31 million and rising), Mr. Kuang and his team possess the necessary experience and knowledge to maximize the potential of the Qiluo organization.
China’s Silk Industry:
China is the world’s largest silk producer. In 2005, it accounted for 74 percent of the global raw silk production and 90 percent of the world export market according to statistics from the Chinese Ministry of Commerce. The annual output value of China’s silk industry is to reach 250 Billion Yuan (31.25 Billion U.S. Dollars) in 2010, up 66.7 percent from 2005, according to a plan of the Ministry of Commerce.
For more information regarding Franklin Towers and Qiluo please visit: http://www.franklintowersenterprises.com .
Disclaimer:
Cautionary Statement About Forward-looking Statements
This press release contains "forward-looking statements," which are statements related to future, not past, events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements.
For more information, please contact:
Fan
Franklin Towers Enterprises
Tel: +1-702-966-0436
