Great River to procure new machine, complete facilities<\/p>\n
JAKARTA (JP): PT Great River Industries, a producer of brand
\nname garments listed on the Jakarta and Surabaya stock exchanges,
\nwill procure new sewing machines and complete facilities for new
\nbranded garments in anticipation of increased demand.<\/p>\n
\"We plan to increase our sewing machines from 6,500 to 7,000
\ndue to the increasing domestic and foreign market demand,\" Great
\nRiver's president, Sunjoto Tanudjaja told reporters here
\nyesterday after the company's shareholders meeting.<\/p>\n
Sunjoto said the company will also construct a new factory on
\na 30-hectare site in Purwakarta, West Java and complete
\nfacilities for new branded garments in its seven-hectare
\nindustrial estate in Cikarang, Bekasi, about 40 kilometers east
\nof Jakarta.<\/p>\n
He said the company has increased its spot sale chains from
\n200 to 250, its representation from 5,200 to more than 6,000
\ndirect customer accounts and its sales offices from 12 branches
\nto 14, including one each in Singapore and Malaysia.<\/p>\n
Sunjoto said the expansion program will cost about Rp 40
\nbillion (US$18.54 million) which will be funded largely by the
\ncompany's retained earnings.<\/p>\n
Sunjoto said the company's after-tax profit grew 3.4 percent
\nfrom Rp 8.38 billion ($3.88 million) in 1992 to Rp 8.66 billion
\n($4.01 million) last year.<\/p>\n
The president said with the expansion program, the company
\nexpects to increase its production capacity form 18 million
\npieces last year to 25 million. 40 percent of the company's
\nproduction capacity is for exports, Sunjoto added.<\/p>\n
\"With this expansion, we have projected that our sales this
\nyear will increase to Rp 160 billion ($74.14 million) and our
\nprofit to Rp 10 billion ($4.63 million).\" Sunjoto said.<\/p>\n
Sunjoto also said the shareholders' meeting approved the
\ndistribution of a cash dividend of Rp 50 per share.<\/p>\n
The company holds licenses or acts as the agent for 27 brand
\nnames, including Triumph and Amo of Germany, Arrow and Donna
\nKaran of the United States, Choya and Junko Koshino of Japan,
\nSaville Row of Britain, Hom and Kenzo of France and Benetton of
\nItaly.<\/p>\n
The company's products include men and women undergarments,
\nsportswear, including sports shoes, children's wear, non-garment
\ntextile derivative products and cosmetics. (02)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/great-river-to-procure-new-machine-complete-facilities-1447893297",
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"sponsor": "Okusi Associates",
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