Cocona Labs, the manufacturer of temperature-regulating 37.5 technology, reported this week that the company finalized the incorporation process to establish a wholly foreign-owned enterprise (WFOE) in Shanghai, China.
“This is an extremely important step for us,” said CEO Jeff Bowman. “It reflects our long-term commitment to doing business in China both to support foreign brands that source products from Chinese suppliers and to supply domestic Chinese brands. Establishing the WFOE will make it easier for customers that source 37.5 materials from China to transact business with us and allow us to provide them with a wider variety of services.”
Cocona Labs, headquartered in Colorado, is a materials science company that manufactures specialty textile technology.
With a growing percentage of Cocona’s yearly revenue attributed to Chinese brand customers and much of the company’s specialty masterbatch ingredients exported to Chinese manufacturers to create technical 37.5 fibers and yarns, the company also announced that the “Chinese market is a critical component for success.”
“The ability to operate in China as a domestic business offers greater efficiency in operations, management and future developments, while making it significantly easier for our domestic Chinese and foreign partners to conduct business,” Bowman said. “Importantly, this also allows us to protect and retain 100 percent ownership and control of our intellectual property.”
