NILIT announced a new joint venture with Shenma Industry Co. Ltd. (Shenma). This new partnership represents a significant expansion of production capacity within China, also demonstrating NILIT?s ongoing commitment to support the growth of global customers and brands.

This expansion is highlighted by multiple investments and cooperation designed to enhance production capabilities and deliver more innovative solutions to the textile industry. This strategic partnership brings together the expertise, resources, and networks of NILIT and Shenma, both renowned enterprises in their respective fields. This joint venture combines NILIT's 50 years of global experience in the production and marketing of high-quality Nylon 6.6 yarns for apparel, and Shenma?s leadership excellence in the Chinese market.

This model of collaboration showcases the mutual benefits of such alliances, including market access, regulatory navigation, and competitive advantage, emphasizing the market leadership of the NILIT team in China led by Shay Kastoriano, NILIT Asia GM, and Shenma as a strong local partner in China. Furthermore, in response to the increasing demand for NILIT's high-end products and the commitment to innovation and sustainability, NILIT is also accelerating its plans to double the production capacity at NILIT?s existing production site located in Suzhou SIP, where Shenma Industrials will be a minority shareholder. This strategic move is aimed at supporting the growing global market demand for NILIT's products, ensuring customers?

needs for advanced and innovative and sustainable materials are met.