Ming Le Sports AG intends to establish an own shoe sole production facility. With the approval of the Supervisory Board, the company plans to invest the total sum of around EUR 80 million. The investment includes land acquisition, the construction of the building, machinery as well as working capital and will be financed by cash on hand and future cash flow from operation.

The construction is anticipated to start by the end of 2013 and to be completed in 2015. With a factory floor space of 60,000 square metres the new facility will dispose of an annual production capacity of around 12.0 million pairs of shoe soles. By insourcing the shoe sole production, the company expects to enhance the gross profit margin.