The former Sanyo Manufacturing property in Forrest City is being purchased by a Chinese textile company.
According to documents recently filed, the company intends to use the facility to manufacture, warehouse and distribute various textile products.
According to documents recently filed in the St. Francis County Circuit Clerk's office, Shandong Ruyi Technology Group, an international company that operates in the textile and garment industry, is in the process of purchasing the property at 3333 Sanyo Road, that housed Sanyo Manufacturing until 2007.
The company intends to use the property for industrial and commercial uses, which include manufacturing, warehousing and distribution, according to a property development decision document filed with the Arkansas Department of Environmental Quality.
According to a company profile provided by Bloomberg, Shandong Ruyi Technology Group manufactures worsted woolen goods such as overcoats, suits, jackets and other pieces of clothing. They also produce leather goods, such as shoes and belts. According to Bloomberg, the company also produces non-clothing items such as walking sticks, umbrellas and various accessories.
On Friday, the Forrest City Area Chamber of Commerce confirmed that the company is in the process of purchasing the facility.
"As indicated by a filing in St. Francis County this week, the former Sanyo Manufacturing property is being purchased by a Chinese company," said Kay Brockwell, Chamber economic development consultant.
"We acknowledge that we are working with them, but we cannot comment further until other details are finalized. We expect to be able to share more information in the coming months,” Brockwell said.
Documents filed with the ADEQ also indicate that the textile company will participate in governing the voluntary cleanup of the property.
The property at 3333 Sanyo Road was built in 1963 by Warwick Electronics for the construction of wood furniture and televisions.
It was acquired by Sanyo Manufacturing in 1976 for the production, storage and distribution of televisions. Sanyo ceased production at the facility in 2007. The property was sold in the fall of 2013 to Olymbec Arkansas, LP.