BOSTON, MA, USA – December 2, 2013 – EastBridge Engineering announced the granting of a Business License for a new industrial knitted textile company in China. Hope Global SND Co., Ltd., is a subsidiary company of Hope Global, Inc. based in Cumberland, RI USA, a leading supplier of custom engineered woven, knitted and braided textile products and assemblies manufactured for a diversified group of industrial and technology based customers.
EastBridge coordinated all aspects of Hope Global’s plan to enter China and establish a wholly foreign owned entity in Suzhou, Jiangsu province, PRC. The development project included refining the operations strategy, site selection, negotiation of the articles of association, recruiting & hiring the executive team and outsourcing of their back office processes.
To provide for a smooth transition, Hope Global’s China staff was housed temporarily in EastBridge’s Suzhou incubator.
Jack Daniels, EastBridge Engineering’s President and CEO states, “we are very pleased to have provided a comprehensive start-up plan and ongoing support to Hope Global in the US and China. Suzhou is an especially good location to host an advance materials company. The local and provincial government units have been welcoming and encouraging of Hope Global’s move to China.”
Cheryl Merchant, CEO of Hope Global, Inc. stated, “Our principal goal was to quickly set-up a manufacturing plant in China and begin executing our business plan. EastBridge helped us to explore a range of options that allowed us to meet our aim perfectly and then carried through the best option. By partnering with EastBridge, we were able to quickly begin product development and doing business with customers throughout greater China and Asia proper. We expect this partnership to last for many years”.
Hope Global, Inc. develops and manufactures “Engineered Textile Solutions” for automotive, commercial and industrial use. Founded in 1883 as Hope Webbing Company in Pawtucket, RI, served as one of the world’s largest narrow fabric mills for many years. Products produced included narrow tapes, webbings and cords required in strap assemblies, uniforms, shoes and parachutes. In 1957, the Casty Family of Boston bought the entire operation with the ideal of further expansion into the shoe industry.
In the mid-1980’s Hope began its initial automotive sales endeavor with the advent of a pile fabric production. Pile fabric functions as a sound deadener inside car doors. This jump into the automotive market was the beginning of what would become over 70% of our current world-wide sales. To supplement automotive parts sales growth Hope opened plants in Mexico and Europe in 1995, and expanded operations in Detroit in 2002, and Europe in 2008. Suzhou operations are Hope’s latest growth opportunity. With the help of EastBridge this venture will follow the same successful steps seen with other operations in Mexico and Europe.
EastBridge Engineering, headquartered in Boston, Massachusetts, USA with offices throughout the Asia-Pacific region, is a specialized consulting company formed in 2003 to meet the emerging needs of European and North American based companies seeking professional guidance in establishing their businesses in Asia. Clients include both large and small manufacturers of advanced materials, consumer items, industrial goods, electronic components, high technology products and software.
