Xiamen company closes in face of fierce competition
There are some 500,000 people working in the stone sector in the Chinese province of Xiamen, where a good proportion of the world's stone is shipped from. So the closure of one company employing 200 people will not make much of a dent. Nevertheless, the reason Xiamen Dragon Stone has given for closing its operation in Xiamen to concentrate on furniture manufacturing for its company registered in Germany instead is interesting.
It says: "…competition in the natural stone business is very fierce and we can't find a good way to continue a competitive price with high quality and service grade."
Xiamen Dragon Stone was established in 1999 and annually exported 400-500 containers of stone worth up to US$74million. Most (or in some years all) of its stone was exported, much of it to Europe, the USA and the Middle East. The stone was CE marked.