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HTL International to wind up two subsidiaries

HTL International Holdings has closed two sofa manufacturing plants in Yangzhou and Shanghai as part of its ongoing efforts to restructure its business.

As a result, the subsidiaries operating these plants, HTL Furniture (Yangzhou) Co and TBC Furniture (Shanghai) Co, will both be wound up.

"The activities at these two plants have been redistributed to the group's other sofa manufacturing plants in other cities within Jiangsu, China," HTL said.