DeCoro Announces Finance Agreement

November 23, 2008  by in UnCategorized   

By Home Furnishings Business in Leather Upholstery on November 2008 DeCoro, which is based in Shenzen, China, announced Monday that it has reached an agreement with China Construction Bank that resolves difficulties created by reduced access to capital, which had impacted production and delivery cycles in recent weeks.

Monday’s three-paragraph announcement said the agreement removes capital constraints posed by global business conditions and allows normal operations to resume immediately.

“We are pleased by the partnership with China Construction Bank and look forward to a good relationship,” said President and CEO Luca Ricci. “We had a very good Market in High Point in October, and this allows us to move forward quickly with our customers on successful new models, especially in the motion category.”

Founded in 1998, DeCoro makes Italian-designed leather upholstered furniture at two factories that have a total of 2.9 million square feet.