Argo Pantes and Great River sign export deals<\/p>\n
JAKARTA (JP): Two major textile and garment manufacturers, PT
\nGreat River International and PT Argo Pantes, yesterday signed
\ncontracts in Kyoto with their Japanese customers to secure a
\nbigger share of that country's market this year.<\/p>\n
Great River, an integrated garment manufacturer and retailer,
\nsigned export contracts worth US$115 million for 1997 to 1999
\nwith four major Japanese firms: Choya Corp, Gunze Ltd, Toyobo Co
\nLtd and Mitsui & Co Ltd.<\/p>\n
Textile manufacturer Argo Pantes signed memorandums of
\nunderstanding with several Japanese firms to secure itself a 40
\npercent increase in textile exports to Japan from $54.4 million
\nlast year.<\/p>\n
Argo Pantes' Japanese textile buyers included Sumitomo Corp,
\nMarubeni Corp, Tomen Corp and Toray International Corp.<\/p>\n
In the deals, Sumitomo agreed to increase its imports of
\ntextile and textile-related products from Argo Pantes by 37.5
\npercent to reach $11 million a year while Marubeni would increase
\nits textile procurements by 38.9 percent to $5 million a year.<\/p>\n
Tomen will raise its imports from Argo Pantes by 47.5 percent
\nto $9 million a year and Toray International by 42.9 percent to
\n$6 million.<\/p>\n
Great River President Sunjoto Tanudjaja said yesterday that
\nthe contracts would ensure an increase in the company's exports
\nto Japan which three years ago had only reached $30 million.<\/p>\n
The company currently exports shirts for Choya, yarn and socks
\nfor Gunze, knitted fabric for Toyobo and garment for Mitsui's
\nItabashi.<\/p>\n
Great River's exports to 20 countries currently total $50
\nmillion. Last year, its exports to Japan made up 26 percent of
\nits total exports.<\/p>\n
Most of its exports are made to non-quota countries, or
\ncountries which do not limit the volume of textile and textile
\nproduct imports.<\/p>\n
Argo Pantes Vice President Sidik Murdiono said the company's
\nexports to its Japanese affiliates last year reached $54.4
\nmillion.<\/p>\n
The company's total exports last year reached $128.3 million,
\nor 67 percent of its total sales turnover.<\/p>\n
Sidik said Argo Pantes currently has 25 major Japanese firms
\nas buyers for its yarn and textile products. The imports were
\nmostly used for Japan's domestic market while a small proportion
\nwas exported as garments and other final products.<\/p>\n
Sidik said the increase in procurements by Japanese firms were
\naimed at achieving Argo Pantes' sales target of Rp 500 billion
\nthis year.<\/p>\n
From this, 70 percent was expected to come from exports to 40
\ncountries and the remaining 30 percent from sales to local
\ntextile and textile product companies, most of which also export
\ntheir own products.<\/p>\n
Sidik said that in the last two years, Argo Pantes spent $35
\nmillion to restructure its industrial facilities and invest in
\nnew machinery to diversify its products into finer quality yarn
\nand fabric. (pwn)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/argo-pantes-and-great-river-sign-export-deals-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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