Teejay Lanka, Sri Lanka’s largest circular knitter, has signed a Memorandum of Understanding with Luen Fung Textiles of China to create a joint venture for the manufacture of lace fabrics. In a move which will significantly expanded Teejay’s product portfolio, the company is to commence the dyeing, finishing, and scalloping of raw lace material supplied by Luen Fung. Production will be carried out at manufacturing facilities run by Teejay India.