Chitaly to invest $100m in plant.

(From The Standard)

Byline: Prudence Ho

Chitaly Holdings, a Hong Kong-listed furniture maker, plans to invest HK$100 million in a new plant in the next three to five years, which could double its sales to HK$ 1.2 billion from last year's HK$404 million. ``Market conditions will determine the pace of our investment,'' said Chitaly executive director Gary Ma. ``If the new plant in Guangzhou runs at full capacity, we estimate the sales could reach HK$1.2 billion.'' In July, the company raised around HK$100 million through share placement, and planned to use the proceeds to buy the furniture division of listed OmniCorp. However, the talks stalled in August when …